"The Hargrave" 50 Hargrave Street Winnipeg, Manitoba F
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FOR SALE DOWNTOWN WINNIPEG MULTI-RESIDENTIAL MERCHANT DEVELOPMENT "THE HARGRAVE" 50 HARGRAVE STREET WINNIPEG, MANITOBA F AUGUST 2019 65 Newly Merchant 20 Covered Delivered in Constructed Suites Development Parking Stalls Fall 2020 COLLIERS INTERNATIONAL 5th Floor - 305 Broadway Winnipeg, MB R3C 3J7 TEL: 204 943 1600 Efficiently Designed Public Transit Ease of Urban Concrete & Steel FAX: 204 943 4793 & Priced Suites Access Living Construction collierscanada.com FOR SALE AUGUST 2019 50 HARGRAVE STREET, WINNIPEG, MB LOCATION Currently under construction by The Sunrex Group of Companies, 50 Hargrave is exceptionally well located in the fast-gentrifying and densely populated Broadway and Assiniboine neighbourhood. Winnipeg’s rapidly evolving downtown begins right outside its front door. The property is just steps away from the Assiniboine River Trails connecting with the trendy Osborne Village, Corydon Village, and Forks Developments and its location provides a dynamic walking conduit to the new True North Square Development, Bell MTS Place (home of the Winnipeg Jets), RBC Hargrave Street Convention Centre, and Portage & Main. Once complete, this rental will serve today's millennial desire for a broad live, work and play environment, and contributes to the property appealing to a diverse mix of tenants, providing the opportunity for high future tenant demand and retention. HIGHLIGHTS • Opportunity to acquire a premium turn key Downtown apartment development located in a trendy and densely populated central Winnipeg neighbourhood on a merchant development forward commit basis. • High quality concrete and steel construction designed with modern interiors and exciting exterior curb appeal with energy efficiency being a major design consideration. • Attractive suite mix with a favourable distribution of modern one- bedroom (85% of total) and two-bedroom suites (15% of total) ranging in size from approximately 440 to 690 square feet. • 20 covered parking stalls located on the main level as well as abundant street level parking is available. • Laddered closing price contingent on actual occupancy and revenue targets achieved by the end of 2020 or within six (6) months from substantial completion of the building and site. OFFERING PROCESS $14,650,000 ($225,400 per suite) at 80%+ Occupancy Prospective purchasers are invited to submit offers or expressions of interest through Colliers for consideration by the Vendor as received. After signing a Confidentiality Agreement (CA), qualified interested parties will be provided with the Confidential Information Memorandum (CIM). AUGUST 2019 SALIENT FACTS Civic Address: 50 Hargrave Street, Winnipeg, MB Scale: 6 storeys Central Business District Total Suites: 65 suites The Forks One-Bedroom 55 suites (~500 SF) Suite Mix: Two-Bedroom 10 suites (~650 SF) Project Phase: Under Construction Projected Completion: Summer 2020 Parking: 20 ground level covered parking stalls Broadway THE HARGRAVE Donald Street Hargrave Street Financing: Treat as clear title Carlton Street Projected 2021 NOI: $686,996 reflecting a 4.7% OCR The property is currently being offered for sale on a bought deal basis at $14,650,000 Offering Process: ($225,400 per suite) at 80%+ occupancy with all offers to be submitted to Colliers and considered by the Vendor as received. Assiniboine Avenue Downtown CF Polo Park Assiniboine Park COLLIERS INTERNATIONAL 5th Floor - 305 Broadway Winnipeg, MB R3C 3J7 TEL: 204 943 1600 FAX: 204 943 4793 collierscanada.com DON WHITE, CFA, CPA CLARISE MARÉ Colliers International, Don White Licensed Investment Specialist National Investment Services National Investment Services 204.926.3843 204.943.1600 x224 [email protected] [email protected] This document has been prepared by Colliers International, Don White, Colliers International, Brian Taillieu (collectively “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). © 2019. All rights reserved..