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CIM-Stewart Avenue Marina

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CIM-Stewart Avenue Marina FORESHORE AND MARINA REDEVELOPMENT OPPORTUNITY 1340/1350/1360/1370 STEWART AVENUE, NANAIMO, BC MARK LESTER BRAD BAILEY MARGARET ZHENG TABLE OF CONTENTS Introduction ................................................................................ 5 Area Overview ............................................................................ 6 Nanaimo Newcastle & Brechin Neighbourhood Area 1340 Stewart Avenue 1350 Stewart Avenue 1360 Stewart Avenue 1370 Stewart Avenue Services Property Overview ...................................................................... 8 Salient Facts/Legal Description Development Potential ................................................................14 Land Use Zoning City of Nanaimo Zoning Newcastle & Brechin Neighbourhood Plan Land Use Plan - Nanaimo Port Authority Survey Titles W2 Zoning P. 3 INTRODUCTION Colliers International is pleased to offer for sale a waterfront marina and upland development site, located in Nanaimo’s harbour area fronting Stewart Avenue in the Newcastle Brechin Neighbourhood area. The property is comprised of three components: 4 freehold upland titles; filled foreshore; and water lot (lease and license) altogether totalling approximately 3 acres of area. Improvements remaining on the site include a vacant two-storey mixed-use building on 1350 Stewart Avenue; a vacant masonry “warehouse” building situated on 1360 Stewart Avenue; and existing floats providing for approximately 27 boat berths. The remaining 2 fee simple lots are vacant. The civic zoning of the property is Harbour Waterfront (W2). The existing marina and water lot is occupied by a 27-slip marina accessed via security gate and ramp. The property enjoys a highly sought after location in Nanaimo’s harbour area located within Newcastle Island channel and directly across the channel from Newcastle Island. The location is exceptional for marine-oriented uses including recreational boating and marinas and is in immediate proximity to BC Ferries Departure Bay Terminal, Seair Floatplane terminal, and a number of marinas and marine clubs and uses and is only a 5-minute drive from downtown Nanaimo. There are numerous excellent possibilities for the future of this property given its premier waterfront location and Nanaimo’s exponentially growing community. Asking Price: $3,500,000 Stewart Avenue Marina P. 5 AREA OVERVIEW NANAIMO NEWCASTLE & BRECHIN NEIGHBOURHOOD AREA Nanaimo is Vancouver Island’s second-largest urban The Newcastle + Brechin neighbourhood covers a land area of approximately 405 acres and is comprised of three distinct centre with a current estimated population of 114,673 areas including the Newcastle neighbourhood; the Brechin Hill neighbourhood; and the Stewart Avenue corridor area. and a further estimated population of 162,727 within the The existing land uses consist primarily of single-family and multiple-family residential uses throughout the neighbourhood, Regional District of Nanaimo (BC Stats). Recognized with commercial uses delineating the character of Terminal Avenue to the west and marine-related uses along Stewart as one of BC’s most livable cities, Nanaimo offers a Avenue to the east in the area of the subject property. Commercial uses are generally service-oriented in nature including favourable balance of lifestyle, accommodation, marine and boating operations, while the industrial uses range from service and transportation-related employment and investment opportunities. Recent to heavy industrial activity such as fuel storage and boat building and repair. sustained growth through in-migration to Nanaimo has resulted in recent record levels of housing sales. Located on the east coast of Vancouver Island and only 111 km north of Victoria, this is the regional service centre for mid and north Vancouver Island. All major Island transportation corridors lead to Nanaimo, and the city is the gateway between the Island and the lower mainland with two BC Ferry terminals, seaplane terminals, and the Nanaimo airport. Population growth (predicted to increase by 60% over the next 30 years) and affordability have created new demand in all service sectors and continue to push the city’s expansion. Nanaimo is considered one of the world’s best recreational boating destinations, offering extensive harbour facilities, and an ideal base for exploring and fishing among the Gulf Islands and the coast of Vancouver Island. Stewart Avenue Marina P. 7 PROPERTY OVERVIEW The subject properties are contiguously located fronting the east side of Stewart Avenue and onto Newcastle Island Passage Harbour. The property is comprised of three components. The first is composed of 4 freehold upland titles totalling approximately 3,231 SF; the second component is filled foreshore accounting for approximately 45,187 SF, and the third is water lot (lease and license) totalling some 80,299 SF of area. Improvements remaining on the site include a vacant two-storey mixed-use building on 1350 Stewart Avenue; a vacant masonry “warehouse” building situated on 1360 Stewart Avenue; and existing floats providing for approximately 27 boat berths. 1340 STEWART AVENUE Rectangular lot fronting east side of Stewart Avenue with fee simple area of 737 SF. The filled foreshore is is approximately 12,755 SF inclusive of existing public walkway ROW and underground sanitary line. Future redevelopment will require dedication and construction of an enlarged public walkway. The water lot component of this parcel is estimated at 46,048 SF. The former building on site has been demolished and removed. The Water Lot Lease includes a 27 slip marina dock system with 600 amp electrical service and piped water. Stewart Avenue Marina PROPERTY OVERVIEW 1350 STEWART AVENUE Rectangular lot fronting east side of Stewart Avenue with fee simple area of 772 SF. The filled foreshore area is approximately 3,832 SF inclusive of existing sanitary lines. Existing improvements include a two-storey building formerly housing a restaurant on the ground floor and residential suite on the second floor totalling some 2,600 SF excluding existing basement. 1360 STEWART AVENUE Rectangular lot fronting east side of Stewart Avenue with fee simple area of 797 SF. Filled foreshore area approximately 8,568 SF inclusive of public walkway ROW and underground sanitary line. The water lot area of this parcel is estimated at 23,207 SF. The property possesses an existing concrete block building formerly used for Oyster processing and comprising approximately 6,400 SF over main and basement floors with an additional ±2,320 SF of mezzanine area. 1370 STEWART AVENUE Undeveloped and rectangular vacant property with an upland area of approximately 926 SF. Filled foreshore area approximately 8,923 SF inclusive of public walkway ROW and underground sanitary line. The water lot area of this parcel is estimated at 22,163 SF. SERVICES All municipal services available including municipal water, sanitary and storm, streetlights, BC Hydro, gas and data/telephone. The sanitary sewer line traverses 1340, 1350, 1360, and 1370 Stewart Avenue parcels through the filled foreshore in a north/south direction. Stewart Avenue Marina P. 11 PROPERTY OVERVIEW SALIENT FACTS/LEGAL DESCRIPTION Civic Address: 1340, 1350, 1360, and 1370 Stewart Avenue, Nanaimo, BC Foreshore Lease Area: That Part of Lot 7, Block 3, Newcastle Reserve, Section 1, Nanaimo District, Plan That Part of Lot 4, Block 3, Newcastle Reserve, Nanaimo District, Plan 5753, Lying 5753, Lying to the East of Brechin Road, as said Road is shown on Said Plan (PID: to the East of the Highway through said Lot 4, That Highway Being Shown on Plan 005-328-306) 5753 (PID: 005-082-676) 1340 Stewart Avenue 1370 Stewart Avenue Upland Fee Simple: 737 SF Upland Fee Simple: 926 SF Filled Foreshore (Leased): 12,755 SF** Filled Foreshore (Available): 8,923 SF** Water Leased: 46,048 SF** Water Leased (Available): 22,163 SF** That Part of Lot 6, Block 3, Newcastle Reserve, Section 1, Nanaimo District, Plan 1360 & 1370 Leasehold and Licence Interest in a portion of the Federal Harbour fronting Those Stewart Avenue 5753, Lying to the East of Brechin Avenue (PID: 005-927-315) Parts of Lots 4 and 5, Block 3, Newcastle Reserve, Section 1, Nanaimo District, Plan Leasehold & Licence Upland Fee Simple: 772 SF Interest 5753, Lying to the East of Brechin Road, as said Road is shown on Said Plan. Filled Foreshore (Leased): 3,832 SF** 1350 Stewart Avenue 1350 Stewart Avenue Filled Foreshore Lease Upland Fee Simple: 7,952 SF (1371 Stewart Avenue) Leasehold Interest in a portion of the Federal Harbour fronting Lot 6, Block 3, Combined Areas - Upland Fee Simple: 3,231 SF Newcastle Reserve, Section 1, Nanaimo District, Plan 5753, Lying to the East of As Proposed for Filled Foreshore: 45,187 SF** Brechin Road, as said Road is shown on Said Plan (Lease FL215)** Consolidation Water Leased: 80,299 SF** Total: 128,747 SF or 2.95 Acres** 1340 & 1350 Leasehold Interest in a portion of the Federal Harbour fronting Lots 6 and 7, Block Stewart Avenue 3, Newcastle Reserve, Section 1, Nanaimo District, Plan 5753, Lying to the East of Water Lot Lease Brechin Road, as said Road is shown on Said Plan (Lease FL019)** NOTE**: Since the original Surveys of the Lands and the Foreshore Lease Areas (Filled Land and Submerged Land), there has been additional submerged landfilled. The recent survey indicates that the That Part of Lot 5, Block 3, Newcastle Reserve, Section 1, Nanaimo District, Plan added area, including a new public walkway, extends to 11,108 SF appurtenant to Lots 4, 5 and 7 – Subject
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