110-112 Avenue Road

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110-112 Avenue Road TABLE OF CONTENTS 01 The Offering 02 Investment Highlights 03 Location Overview 04 Market Overview 05 Property Overview 06 Financial Overview 07 Offering Process THE OFFERING CBRE Limited (“CBRE”) is pleased to offer for sale a 100% freehold interest in 110 – 112 Avenue Road (the “Property” or the “Site”), an irreplaceable and highly distinguished asset located steps from the affluent neighbouhood of Yorkville, Canada’s most exciting and dynamic fashion retail submarket. Occupying the northwest corner of Avenue Road and Tranby Avenue, the Property features ~50 feet of prime frontage providing exposure along Avenue Road resulting in unmatched consumer traffic. The Property provides an investor with the opportunity to acquire one of the very few uniquely striking exposed brick assets located steps from Yorkville, one of the most prosperous neighbourhoods in Canada with unrivaled demographic characteristics. 4 | 110 & 112 Avenue Road CBRE Limited | 5 INVESTMENT HIGHLIGHTS Prime opportunity to acquire a landmark building situated in Canada’s most prestigious neighbourhood 110 – 112 Avenue Road occupies a highly-renowned position situated steps from Yorkville, Canada’s most prominent neighbourhood. The property’s specific position featuring a highly visible corner location off of Avenue Road results in unmatched consumer traffic – an invaluable asset for retail tenants. Exceptional market fundamentals for retail and residential uses Yorkville is world-renowned for its luxury shopping with sub-5% retail vacancy and among the highest net rents in Canada. As Canada’s most affluent neighbourhood Yorkville features an eclectic mix of luxury shopping, designer boutiques, distinguished restaurants, cafes, and art galleries in conjunction with its highly sought after multi-residential market all of which lead to a diverse consumer base. Highly attractive and striking Victorian building The Property features exceptional physical characteristics including exposed brick from its original construction in 1890, one of the few unique landmark assets for purchase in Toronto. The Property is highly attractive to small and medium sized firms seeking the many benefits of a prominent location in a prosperous neighbourhood drawing from the surrounding base of highly educated and affluent residents. Available free and clear financing The Property is being offered free and clear of existing financing allowing an investor the opportunity to take advantage of current historic financing rates to maximize returns. 6 | 110 & 112 Avenue Road CBRE Limited | 7 LOCATION OVERVIEW YONGE AND UNIVERSITY LINE UNIVERSITY AND YONGE 110 – 112 Avenue Road occupies a marquee position along the northwest corner of Avenue Road and Tranby Avenue situated steps from the westerly boundary of Yorkville, Toronto’s most affluent and preeminent mixed-use neighbourhood. E STATION Immediately south of the Property is Yorkville Village, a distinguished variety of contemporary brands and unique boutiques in a vibrant and beautifully designed environment BAY STATION anchored by Whole Foods and Equinox Fitness Club. Travelling further towards Bloor Street is the prominent neighbourhood of Yorkville, world renowned for its luxury BLOOR STREET BLOOR-DANFORTH LINE high-end shopping and tourist appeal also featuring a burgeoning condominium market. Stretching along the YORKVILLE AVENUE entire Bloor-Yorkville submarket are world renowned high- CLB BUS ROAD AVENUE 5 end fashion retailers including Holt Renfrew, Louis Vuitton, NIGHTCLB Tiffany & Co, Gucci, Chanel, Brooks Brothers, and Prada. Further to the high end collection of institutional fashion retailers, Yorkville is also comprised of an eclectic mix of designer boutiques carrying the latest fashion trends to high end galleries and antique shops highlighting its diverse and unique locational characteristics. As such, market rental rates reflect a premium in this surrounding neighbourhood and in particular along Bloor Avenue with BEDFORD ROAD rental rates being the highest along this strip in Canada. TRANBY AVENUE In addition to enormousness retail and shopping variety, AVENUE ROAD AVENUE Yorkville is renowned for hosting Toronto’s most high-end and highly proclaimed restaurants including Cibo Wine Bar, 6 BAY BUS STK Toronto, Buca Osteria & Bar, La Société, Planta, and HAZELTON AVENUE Kasa Moto. The Yorkville neighourhood continuously draws from a wide consumer base given its proximity to countless amenities that generate significant daily pedestrian volumes. The Property’s exemplary locational characteristics provides Toronto residents not only an invigorating retail experience but also an environment where families and young professionals DAVENPORT ROAD can live and work given countless amenities and its proximity to the Financial Core. 8 | 110 & 112 Avenue Road YONGE AND UNIVERSITY LINE UNIVERSITY AND YONGE E STATION BAY STATION BLOOR STREET BLOOR-DANFORTH LINE YORKVILLE AVENUE CLB BUS ROAD AVENUE 5 NIGHTCLB 110 & 112 AVENUE ROAD BEDFORD ROAD TRANBY AVENUE AVENUE ROAD AVENUE 6 BAY BUS HAZELTON AVENUE DAVENPORT ROAD CBRE Limited | 9 Prominent Public Transit Infrastructure BLOOR-DANFORTH LINE Toronto features the best public transit infrastructure SP STATION in Canada supported by an extensive network of surface, subway, and rail transportation. The Property YONGE AND UNIVERSITY LINE is well serviced by the existing public transportation ST ERE SPADINA ROAD STATION network providing easy access to surface, subway, and STATION rail transportation. 110 – 112 Avenue Road features exceptional public transit access serviced by a number of existing TTC subway stations including St. George, Bay, STREET DUPONT ST. GEORGE STREET and Museum stations providing excellent access to the Financial Core. In addition, the surface route of 5 Avenue BLOOR STREET WEST E BLOOR-DANFORTH LINE services residents along Avenue Road. STATION 6 BAY BUS DAVENPORT ROAD DISTANCE TO ST. GEORGE, BAY OR MUSEUM 5 AVENUE ROAD BUS BEDFORD ROAD TTC SUBWAY STATION APPROXIMATELY 750M TRANBY AVENUE 9 MINUTE WALK AVENUE ROAD TTC BUS ACCESS 5 AVENUE ROAD | 6 BAY CUMBERLAND STREET DAVENPORT ROAD 6 BAY BUS 10 | 110 & 112 Avenue Road BLOOR-DANFORTH LINE SP STATION YONGE AND UNIVERSITY LINE ST ERE SPADINA ROAD STATION STATION DUPONT STREET DUPONT ST. GEORGE STREET BLOOR STREET WEST E BLOOR-DANFORTH LINE STATION 6 BAY BUS DAVENPORT ROAD 110 & 112 AVENUE ROAD 5 AVENUE ROAD BUS BEDFORD ROAD TRANBY AVENUE AVENUE ROAD CUMBERLAND STREET DAVENPORT ROAD 6 BAY BUS CBRE Limited | 11 29.4 $194,584 21.7 POPULATION GROWTH AVERAGE ANNUAL HOUSEHOLD INCOME GROWTH 2011-2016 INCOME AS OF 2016 INCREASE BY 2021 Best-in-Class Demographic Profile Toronto is experiencing significant growth through urbanization and immigration. It is the largest city in Canada and the fifth most populous city in North America supporting a total population of 6.17M as of 2016. Toronto’s Bloor-Yorkville area exhibits among the best figures in terms of economic prosperity and growth in the GTA. Population growth and intensification of land use in Bloor-Yorkville reveals a dramatic shift towards urbanization. Most of the recent growth has been in the millennial age cohort (20 – 34 year olds), which now represent 35% of the total population in the radius surrounding Bloor-Yonge. Within a 1KM radius of the Property an expected increase of 10.2% in population growth is expected from 2016 – 2021. Further, a 12 | 110 & 112 Avenue Road population growth of 21.4% is expected for the same time period within Yorkville neighbourhood, 17% greater than the Toronto average. In addition, household income within the Property’s immediate area was $176,661, 71% greater than that of the Toronto’s average. As such, the area continues to attract young professionals and affluent families with high levels disposable income who are attracted to the wide variety of amenities offered and close proximity to the Financial Core. CBRE Limited | 13 MARKET OVERVIEW Retail Market Overview The Property is surrounded by an abundant of retailers of both institutional caliber and boutique designers. Steps from the Property is Yorkville Village a shopping destination of distinguished variety comprised of contemporary brands and unique boutiques in a vibrant and beautifully designed environment anchored by Whole Foods and Equinox Fitness Club. Yorkville represents the pinnacle of Canadian high-street fashion retail recognized internationally as one of the top ten shopping destinations in the world with high-end fashion uses dominating street front along Bloor Street. Directly north of Bloor Street, a similar style of retailing continues in the Yorkville area, where smaller boutiques, art galleries, restaurants, and lifestyle uses are prevalent. The area, being an integral part of Toronto’s vibrant cultural and entertainment district ensures steady flow of both daytime and evening traffic seven days a week. The area encompassing Bay / Bloor / Yorkville generates an estimated $1.8 billion in retail sales from just over 600 outlets. Retailing in Bloor is characterized as uniformly high-end, including a strong concentration of flagship stores or both global and luxury brands and Canadian retail icons such as Holt Renfrew and Davids shoes. The area boasts 2.3 million square feet of retail space, 1.5 million of which is street front. Retail sales performance along Bloor Street corridor between Yonge Street and Avenue Road often exceeds $2,500 per sq. ft. Bloor Street West is often compared to areas such as 5th Avenue in New York and Rodeo Drive in Los Angeles.
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