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OTTAWA ONTARIO Accelerating Success

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OTTAWA ONTARIO Accelerating Success #724 BANK STREET OTTAWA ONTARIO Accelerating success. 724 EXECUTIVE SUMMARY 4 INVESTMENT HIGHLIGHTS 6 PROPERTY OVERVIEW 8 AREA OVERVIEW 10 FUTURE DEVELOPMENTS 14 CONTENTS ZONING 16 724 THE PROPERTY OFFERS DIRECT POSITIONING WITHIN THE CENTRE OF OTTAWA’S COVETED GLEBE NEIGHBOURHOOD EXECUTIVE SUMMARY 724 Bank Street offers both potential investors and owner- Key Highlights occupiers an opportunity to acquire a character asset within • Rarely available end unit character asset within The Glebe Ottawa’s much desired Glebe neighbourhood. • Attractive unique facade with signage opportunity At approximately 8,499 SF in size, set across a 3,488 SF lot, this • Flagship retail opportunity at grade 1945 building features two storeys for potential office space and • Excellent locational access characteristics, just steps from OC / or retail space. 5,340 SF is above grade, 3,159 SF SF is below transpo and minutes from Highway 417 grade (As per MPAC). • Strong performing surrounding retail market with numerous local and national occupiers Located on Bank Street at First Avenue, approximately 600 • Attractive to future office or retail users, private investors and meters north of the Lansdowne, the Property is encompassed by surrounding landholders character commercial office space, a supportive residential and • Excellent corner exposure condominium market and a destination retail and dining scene in Ottawa. ASKING PRICE: $3,399,000 724 BANK STREET 5 INVESTMENT HIGHLIGHTS A THRIVING URBAN NODE OFFERING TRENDY SHOPPING, DINING AND LIVING IN OTTAWA, THE PROPERTY IS SURROUNDED BY AN ECLECTIC MIX OF RETAILERS, RESTAURANTS AND COFFEE SHOPS. The Property presents an opportunity for an An end-unit asset, complete with both First Avenue and Drawn to The Glebe by its notable retail and dining scene, investor or owner-occupier to acquire a rarely available, Bank Street frontage, the Property presents an exceptional commercial rents within the area have continued to rise character asset in The Glebe neighbourhood of Ottawa. The retail or office opportunity. Resulting from condominium over the last decade, with character assets drawing young, Property provides direct positioning within one of Ottawa’s development around The Glebe over the last few decades and modern businesses to the area, capitalizing on the emergence most sought-after neighbourhoods. Properties of this nature the development of Lansdowne, the local demographic profile of thousands of urban professionals within just a few short are rarely available for sale within this stretch of The Glebe, has seen vast increases in the number of mature, affluent blocks. with the majority of assets now held under the ownership of a individuals taking residence within close proximity. small number of private investors. 724 BANK STREET 7 724 • Well positioned in the established Glebe neighbourhood of Ottawa, appealing to a broad base of tenants • Rare value-add opportunity to own and occupy office and retail space in a historic and prosperous fringe core neighbourhood • Surrounded by improved historic buildings with detailed architecture, PROPERTY giving the immediate area a unique look • Close proximity to Ottawa’s arterial routes including, Bank Street, Bronson Avenue, and Queen Elizabeth Driveway • Easy access to East/West Highway 417 at Metcalfe Street OVERVIEW • Immediate area serviced by OC public transit, providing access to Ottawa’s robust labour pool • Recently upgraded with new roof, new hot water tank and boiler 8 724 BANK STREET PROPERTY OVERVIEW Municipal Address 724 Bank Street, Ottawa, ON No. of Floors Two (2) Location Bank Street at First Avenue Building Size 5,340 SF Above Grade 3,159 SF Below Grade 8,499 SF Total (As per MPAC) Site Area 3,488 SF Year Built 1945 Submarket Fringe Core Market Average Rent (Gross) Retail - $42.85 PSF Zoning TM H(15) - Traditional Mainstreet Zone Legal Description PT LT 6, PL 34756 , W/S BANK ST AS IN N570616; S/T N570616 ; OTTAWA/NEPEAN 724 BANK STREET 9 AREA OVERVIEW RETAIL MARKET STATS - DOWNTOWN CORE Q4 2018 Q2 2019 TREND Retail Inventory 728,047 728,047 Net Absorption 15,955 -1,997 Vacancy Rate 4.7% 5.0% Overall Average Gross Asking Rent $39.09 $42.85 Total Buildings 21 21 10 724 BANK STREET AREA OVERVIEW DEMOGRAPHIC OVERVIEW 3 KM 5 KM 10 KM With a current population of approximately 103,022 within Population 103,022 237,184 580,623 the direct vicinity (3 km radius of the Property), and a local Total Daytime Population 192,609 343,735 678,331 population of 237,184 (within 5 kilometers), the community boasts Total Households 53,864 117,084 263,357 a robust economic base with above average incomes ($88,851 per household). Residents provide an excellent talent pool, with Average Household Income $88,851 $83,868 $86,690 48,009 of them having postsecondary certificate, diploma or Average Household Size 2.6 2.7 2.8 degree. The mature atmosphere of the area is represented by the Average Age 38.4 40.1 41.7 average household size (2.6) and an average age of 38.4. Postsecondary certificate, diploma or degree 48,009 99,144 225,473 Demographic projections through to 2025 based on 2017 census Employment Rate 64.5 60.6 59.2 information provided by Statistics Canada show an 8% growth Owned Dwellings 19,108 45,467 130,826 rate through the Glebe area. Rented Dwellings 34,662 71,647 132,476 724 BANK STREET 11 56 724 7 6 NE PARK W /TD O P D L S A N C A E L 10 AREA CONT’D OVERVIEW A heavy populated transit area with numerous stops within walking distance. 6 7 10 56 A variety of routes accessible with destinations including: Rockcliffe, St. Laurent, Greenboro, Rideau, Carleton, Tunney’s Pasture and Hurdman. Highway 417 access. Major transit route. 724 BANK STREET 13 14 724 BANK STREET 724 BANK STREET 15 ZONING TM H(15) - TRADITIONAL MAINSTREET ZONE PURPOSE OF ZONE The purpose of the TM - Traditional Mainstreet Zone is to: (1) accommodate a broad range of uses including retail, service commercial, office, residential and institutional uses, including mixed-use buildings but excluding auto-related uses, in areas designated Traditional Mainstreet in the Official Plan; (2) foster and promote compact, mixed-use, pedestrian-oriented development that provide for access by foot, cycle, transit and automobile; (3) recognize the function of Business Improvement Areas as primary business or shopping areas; and (4) impose development standards that will ensure that street continuity, scale and character is maintained, and that the uses are compatible and complement surrounding land uses. NON-RESIDENTIAL PERMITTED USES • amusement centre • emergency service • place of worship • animal care establishment • hotel • post office • animal hospital • instructional facility • recreational and athletic facility • artist studio • library • research and development centre • bank • medical facility • residential care facility • bank machine • municipal service centre • restaurant • catering establishment • museum • retail food store • cinema • office • retail store • click and collect facility • park • school • community centre • parking garage • service and repair shop • community health/resource centre • payday loan establishment • storefront industry • convenience store • personal brewing facility • theatre • day care • personal service business • training centre • diplomatic mission • place of assembly • urban agriculture RESIDENTIAL PERMITTED USES • apartment dwelling, low rise • apartment dwelling, mid rise • bed and breakfast • dwelling units • group home, • home-based business • home-based day care • retirement home • retirement home, converted • rooming house 16 724 BANK STREET OFFERING PROCESS All inquiries regarding the Property or any information contained in this document should be directed to the under-noted on behalf of the vendor. #724 MICHAEL PYMAN* JORDAN LOVETT* COLLIERS INTERNATIONAL National Investment Services Sales Representative 340 Albert Street, Suite 930 BANK Associate Vice President T: +1 613 683 2239 Ottawa, ON K1R 7Y6, Canada T: +1 613 683 2202 M: +1 613 298 8500 T: +1 613 567 8050 M: +1 613 878 9441 [email protected] F: +1 613 567 8035 STREET [email protected] www.collierscanada.com This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2020. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Inc. *Sales Representative 724 BANK STREET 17.
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