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2017 Recreational Report

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2017 Recreational Report COMMERCIAL REAL ESTATE | FRANCHISES | BUSINESS OPPORTUNITIES $4.29 • AUGUST 2017 • VOL32/8 2017 RECREATIONAL REPORT GREAT ESCAPES | 10 FROM CONDOS TO COTTAGES Demand from urbanites driving prices higher for prime recreational property across B.C. 53 STOREYS | 14 TOWER POWER IN NEW WEST Royal City caps 10 years of rapid development with new riverfront skyscrapers CONTENTS Full index 3 Recreational report 10 Trophy waterfront 11 New Westminster 14 Residential investing 16 Capital gains 20 B.C. report 22 Done Deals 26 PUBLICATIONS MAIL AGREEMENT 40069240 0 8 Alan Johnson, left, and Mark Lester of Unique Properties, Colliers 0 6 0 3 5 8 1 8 2 9 1 9 International: want to buy a private B.C. island? | PAGE 11 MACDONALD COMMERCIAL Commercial Sales & Leasing, Property & Asset Management and Strata Management. macdonaldcommercial.com 604.736.5611 Listings on Page A4 & A5 A2 | LOWER MAINLAND WESTERNINVESTOR.COM | AUGUST 2017 NEWLY RENOVATED FOR SALE - EAST VANCOUVER PRIME OCEANFRONT FOR SALE FOR SALE - SINGLE TENANT APARTMENT BUILDING BUILDING AND PROPERTY DEVELOPMENT OPPORTUNITY 38.4 - 78.4 ACRES INVESTMENT OPPORTUNITY LIMERICK MANOR - 5450 204TH ST, LANGLEY 1428 CHARLES STREET, VANCOUVER MARINER’S VILLAGE, SOOKE, BC BURKE MOUNTAIN, COQUITLAM 250 WINNIPEG STREET, PENTICTON, BC • Pad Development Opportunity • 41,382 sf / 0.95 acre property • Approximately 40,000 sf, two storey building • 8.63 acres of development land approved for • 2 lots: 38.4 and 40 acres • 1.43 acres site with net rentable area of 23,565 sf on 23,262 sf corner site mixed-use development • 3 storeys, 39 suites and 27,267 sf • Beautiful views • Net Operating Income $564,668 (as of 09/2017) of net rentable area • Located in Strathcona, walking distance to • Views of Sooke Harbour & the Olympic Mountains • Future residential development property • Long term lease • 4.4% capitalization rate amenities of Venables and Commercial Drive • Serviced, zoned, marina leasehold included or ideal estate lots • Listing Price $9,800,000 • Asking Price $7,600,000 • Asking $6,300,000 • Asking $3,500,000 per lot GREG MILES | CHRIS J. NEWTON* BILL RANDALL* | ANNE TANNER* PETER GIBSON* | JON BUCKLEY* DON DUNCAN* | CHRIS DRIVER* MATTHEW MACLEAN* TIM SOMMER* BILL RANDALL* CO-LISTED WITH FORM RETAIL INVESTMENT OPPORTUNITY MULTI-FAMILY FOR SALE PROSPERITY BUILDING AT INSPIRATION BUILDING AT FOR SALE DEVELOPMENT OPPORTUNITY 158 ACRE DEVELOPMENT SITE DOCKSIDE GREEN DOCKSIDE GREEN WHITEWATER MOBILE HOME PARK 342 WALE ROAD, COLWOOD, BC KNIGHT CRESCENT, PRINCE GEORGE, BC 388 HARBOUR ROAD, VICTORIA, BC 398 HARBOUR ROAD, VICTORIA, BC • 3245 Paris Street, Penticton, BC • Centrally located in the rapidly growing West • 158 acres just off the Hart Highway • Spectacular Turnkey Class “A” Strata • Spectacular Turnkey Class “A” Strata • 10.76 acres / 93 Home pads Shore community of Colwood • Plan includes a mobile home park, single family • Ground Floor - 4,393 sf • Second Floor - 6,642 sf • Asking Price $10,800,000 | 5.0% Cap • Site size of 59,374 sf and multi-family lots • Second Floor - 1,657 sf • Third Floor - 6,641 sf • Asking Price $2,999,000 • Asking $2,850,000 • Third Floor - 4,100 sf DON DUNCAN* | CHRIS DRIVER* MARSHALL MCANERNEY* HM COMMERCIAL GROUP TIM SOMMER* | CHRIS DRIVER* BILL RANDALL* COLLEEN AUSTIN | ANNE TANNER* COLLEEN AUSTIN | ANNE TANNER* KELOWNA AREA FOR SALE: 30 ACRES OF FOR SALE/LEASE - GLOUCESTER ±21,000 SF BUILDING ON FOR SALE: SURREY CENTRAL SHOPPING CENTRE DEVELOPMENT LAND INDUSTRIAL ESTATES 4.5 ACRE LAND DEVELOPMENT OPPORTUNITY WESTBANK SHOPPING CENTRE BEAUMONT LAKES SOUTH, EDMONTON, AB 5363 & 5368 273A STREET, LANGLEY 26345 62ND AVENUE, LANGLEY 10519 & 10525 135A STREET, SURREY SITE (±30 ACRES) A B • GLA: 73,898 sf; Lot Size: 8.6 acres • Beaumont Alberta - Prominent location • 5363 273A St.: 23,794 sf (Warehouse/Office/Mezz) • Close proximity to Highway #1 (Langley, BC) • ±14,981 sf land in Surrey City Centre • Leasehold interest with 74 years left • 30 acres - Commercial & Residential uses • 5368 273A St.: 12,686 sf (Warehouse/Office/Mezz) • Asking Price $3,250,000 • Asking Price $1,850,000 on a prepaid lease • ±165,000 per acre • 24’ & 26’ ceiling heights • Zoned Institutional • Designation: Midrise / 3.5 FAR • Tenanted by: Landmark Cinemas, Tim Hortons, • Asking $5,000,000 • Ample turning radius & enclosed storage • Land in ALR/Grandfathered • Commercial uses possible White Spot and TD Bank with fence PETER GIBSON* KEVIN MEIKLE*** | EDGAR BUKSEVICS* HARPREET SINGH* BILL HOBBS* | DAVID POTTINGER HARPREET SINGH* | MICHAEL HARDY* HARPREET SINGH* | MICHAEL HARDY* FOR SALE INVESTMENT OFFERING ABBOTSFORD INVESTMENT BRAND NEW STRATA UNITS IN FOR LEASE - RARE 46,400 SF WEST END HOLDING PROPERTIES FULLY LEASED INDUSTRIAL BUILDING PRICE REDUCED! PORT KELLS STAND ALONE BUILDING WITH REDEVELOPMENT POTENTIAL NEWTON INVESTMENT 2451, 2455 & 2467 CLEARBROOK ROAD 19715 96TH AVENUE, LANGLEY 3600 VIKING WAY, RICHMOND ABBOTSFORD SITE 1386 & 1390 THURLOW STREET, VANCOUVER • Strategic multi-family holding properties • 10,000 sf building on 1.21 acre site • 2,414 sf to 40,098 sf • Total lot size: 3.094 acres • Designated high-rise density in West End • Strong national tenant covenant • 0.54 acres commercial land • Dock and grade loading • Flex office and warehouse configurations Community Plan • Fully paved, fenced, drained and • Opportunity to purchase all or select sites • Exposure to 96th Avenue and Telegraph Trail • Zoned IB1 (International Business Park) • 2 blocks from the beach with potential for landscaped yard • High visibility location • Please contact listing agents for more details water views • Potential for drive-through uses • Contact listing agents for asking price BRETT AURA* | CRAIG W. BALLANTYNE* BILL HOBBS* HARPREET SINGH* ANDREW GREEN* RON EMERSON | JORDAN SENGARA* FOR SALE FULLY TENANTED FOR SALE EXCELLENT FREESTANDING FOR SALE - 168.7 ACRES THE DUNCAN COURTHOUSE INDUSTRIAL PROPERTY FULLY LEASED BUILDING INDUSTRIAL VALUE WITH RENTAL INCOME 238 GOVERNMENT STREET, DUNCAN, BC CLOVERDALE INVESTMENT PROPERTY 4898 MAIN STREET, VANCOUVER 2664 BEDFORD STREET, PORT COQUITLAM 2575 ALASKA HIGHWAY, FORT NELSON, BC • Opportunity to purchase a well maintained • 22,500 sf freestanding manufacturing/ • AAA National Covenant Tenant • 7,642 sf shop and office building provincial government tenanted Courthouse distribution warehouse • High profile location • 18,021 sf site • 11,000 sf building on 168.7 acres and office buildings (includes office, coffee room & a parts room) • Dock and grade loading; Fenced compound • 10,027 sf retail strata • Can be made available to occupy by July 1st, 2018 • 10 year leases in place; leasable area is 30,047 sf • Current lease rate is $273,900 net per annum • Strong International Covenant • Asking Price $9,380,000 • Future multi-family upside • Cap rate 5.13% for the building and 20 acres • $1,600,000 • Price $ 8,200,000 • Asking Price $4,900,000 ANNE TANNER* | ADAM FRIZZELL BILL HOBBS* CRAIG HAZIZA** RICK EASTMAN* | KEVIN VOLZ* BILL RANDALL* METROTOWN DEVELOPMENT DUNBAR STREET INVESTMENT OR PRIME CORNER COURT-ORDERED SALE FOR SALE OPPORTUNITY DEVELOPMENT OPPORTUNITIES RETAIL BUILDING LOTS 26 & 27 - 3220 OTTER POINT ROAD 250 HIGHWAY 97A VERNON/SPALLUMCHEEN, BC ROYAL OAK AVENUE, BURNABY 3456 & 3496 DUNBAR STREET, VANCOUVER 615 TWELFTH STREET, NEW WESTMINSTER SOOKE, BC • 24,683 sf site (198’ x 125’) • C-2 zoning (FSR 2.5), no rezoning required for • Lot size: 4,698 sf • 1.49 acres • Located in Spallumcheen Valley • Marlborough sub area of Metrotown Plan redevelopment • Building size: 3,444 sf • 20,000 sf industrial building • 112 acres • 4.9 maximum FSR • Highly desirable Westside street • Zoning C2-A (4 storey development potential) • Site is fenced and paved • Industrial zoning • Walking distance to schools, parks and shops • Asking Price $1,499,000 • Asking $4,500,000 • Contact listing agent for asking price BRETT AURA* | KYLE WILSON BOE IRAVANI* ALEX CHRONAKIS BILL RANDALL* | ELIZABETH MEARS BILL RANDALL* | ERIC RICE 604 683 3111 / cushmanwakefield.com *Personal Real Estate Corporation / **Craig Haziza is licensed with CAH Realty Inc. and has a contractual relationship with Cushman & Wakefield Ltd. ***Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / ****Sean Ungemach is licensed with SBU Realty Advisors Ltd. and has a contractual relationship with Cushman & Wakefield Ltd. / E.&O.E.: This communication is not intended to cause or induce breach of an existing agency agreement. The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Cushman & Wakefield Ltd. VANCOUVER | LOWER MAINLAND | VANCOUVER ISLAND Contents | AUGUST 2017 OPINIONS & FEATURES NEWS & COMMENT WESTERN PERSPECTIVE 6 Annual recreational report Frank O’Brien, Western Cottage country heating up across B.C. 10 Investor editor, says Residential investing misguided government Ottawa tax threat collides with rental zoning 16 housing policy stresses the most vulnerable owners China-backed investor buys Grouse Mtn. 25 Multiple offers received on $200M resort PRIVATE HOME TAX BREAK 20 Done Deals The principal residence What sold and for how much in Western Canada 26 capital gains tax exemption may not be as bulletproof as we think it is, says tax lawyer William Cooper ADVERTISING DIRECTORY CHINA BUYERS LOOKING EAST 22 Montreal and Toronto Lower Mainland 2-21 now more popular than Services 19 Vancouver with China-based Sea to Sky/Sunshine Coast 22 homebuyers,
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