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303 West Hastings Street, Vancouver, BC for SALE

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303 West Hastings Street, Vancouver, BC for SALE FOR SALE 303 West Hastings Street, Vancouver, BC CECILIA TSE STEVE FAME ROBERT DOWN DAN CHATFIELD Personal Real Estate Corporation Personal Real Estate Corporation Personal Real Estate Corporation Senior Associate Senior Vice President Senior Vice President Vice President 604 318 6313 778 881 6813 604 761 3263 604 499 4700 [email protected] [email protected] [email protected] [email protected] OPPORTUNITY Revitalize a heritage classic and consider renovated office and retail space, which are commanding lucrative lease rates in the area. Enter into discussions with the City of Vancouver regarding a Heritage Revitalization Agreement, excess density, or possible facade retention in conjunction with development. CURRENT ZONING The Property is zoned Downtown District (Section C2), which allows for a variety of uses, including but not limited to, Hotel, Office, Commercial, Public & Institutional, Residential, Retail and Social. The maximum density allowed under the zoning bylaw is a 5.00 FSR, where residential uses must not exceed an FSR of 3.00 and the maximum height allowed is approximately 75 feet. There is potential to rezone for a higher density on the basis of developing 100% secured purpose-built rental housing. LOCATION The subject property is strategically located on the north and south side of West Hastings Street, between Cambie and Homer Streets, in the Downtown district of Vancouver, British Columbia. Famous for its turn-of-the-century architecture, the area is home to Vancouver Landmarks such as, Victory Square and the Dominion Building. Just one block east is the $300 million Woodward’s redevelopment, which features two residential towers (736 housing units) and features such retailers as London Drugs, Nester’s Market, Toronto Dominion Bank, and Subway. Prominent businesses and institutions such as Spaces, Vancouver Film School, Simon Fraser University and Salesforce have also chosen this area as their preferred location. The area is heavily serviced by transit, with multiple bus stops that traverse Hastings Street and Cambie Street, and Waterfront Station is only steps away, offering the Canada & Expo Lines, the West Coast Express, the SeaBus, as well as, immediate access to both the Harbour Air and Heli-Jet terminals. Tenants and investors alike will benefit from a highly favourable location in the heart of the Downtown core’s historic neighbourhood, which has quickly become Vancouver’s destination of choice for business, shopping and entertainment. SUBJECT 1A S t a n l e y P a r k S D t r a n le S y t a Beaver P n a l Lake r e k y D P r a P r i k p C e l a i u n s e e Stanley w R a d Park y Avison W ay 1A 99 ark Dr y P nle r ta n D S S goo ta La nl ey N P ar k Dr Lost Lagoon NEARBY AMENITIES Devonian Coal Harbour Harbour Park W. Georgia St Alberni St Lagoon Dr 1 Revolver Park Ln Haro St Beach Ave Nuba 2 Chilco St Harbour Pendrell St Green Park Simon Fraser University Innovation Centre W. Commissioner St 3 Gilford St Comox St Bidwell St Pender St Dressew Supply Denman St 4 Pendrell St W. Georgia St Canada Pl Alberni St Canada 5 La Taqueria Pinche Taco PlaceSUBJECT Nicola St Melville St Meat & Bread Bidwell St 6 Cardero St English Bay Broughton St 99 Waterfront PurebreadAve Beach Jervis St Hastings St E. Commissioner 7 Cordova St Nelson St Barclay St Bute St Burrard Pender St London Drugs 1A 8 Bidwell St Haro St Dunsmuir St Catch 122 Cafe Bistro Pendrell St Thurlow St 13Water St 9 Cardero St Comox St 12 W. Georgia St Powell St Columbia St The Pint Public HouseNicola St 1 11 St Abbott 10 Burrard St Seymour St 4 Granville St Carrall Robson St 5 6 7 Davie St 8 11 Timbertrain Coffee HouseBroughton St 16 32 Burnaby St 14 9 City Centre Homer St 15 12 Pourhouse 10 Howe St Pender St Harwood St 13 Starbucks St. H Bute St Paul’s Granville St Richards St Stadium/ Keefer St Smithe St Quebec St Vancouver Film School DunsmuirChinatown Viad 14 Sunset Hornby St Cambie St Beach Beach Ave Hamilton St Vancouver Community College Thurlow St Nelson St 15 Pacic Blvd Burrard St Rogers Expo Blvd Finch's Davie St Arena 16 Helmcken St Beatty St Blvd Georgia Viad BC Place Drake St Stadium Hornby St Mainland St Expo Vanier Hamilton St Park May & Lorne Brown Park Seymour St Burrard Bridge Pacic Blvd Richards St Yaletown/ Roundhouse Science Homer St World Pacic Blvd Point Grey Rd Kitsalano Beach Cambie Bridge St Quebec George Wainborn David Lam Granville Granville Bridge Park Park Trafalgar St Trafalgar Island Balsam St Balsam Maple St Johnston Street False Creek Yew St Yew Olympic Village 99 1 Ave 1 Ave 1 Ave Stephens St Stephens Cartwright Street Larch St Larch Vine St 2 Ave 2 Ave Cypress St Cypress 2 Ave Old Bridge Street 3 Ave 3 Ave 1 Ave 3 Ave 303 WEST HASTINGS STREET Built in 1901, 303 West Hastings Street is improved with a three-storey plus basement mixed-use commercial building of masonry construction, known as "First Rogers Block". The exterior is finished with a mix of red brick and stone trim and the front of the building features numerous large windows, providing retail and office tenants with an abundance of natural light. Two retail tenants have an equal portion of the main floor and basement, and a related tenant occupies the open plan space on the second and third floors. The interior is finished with a mix of hardwood, laminate and carpeted flooring, exposed brick and beam walls & high ceilings. Property Details CIVIC ADDRESS 303 West Hastings Street LEGAL ADDRESS Lot B (See E92117l) of Lots 15 And 16 Block 11 District Lot 541 Plan 210 PID 015-511-014 LOT SIZE 4,750 SF ZONING DD (C2) (5.00 FSR) HERITAGE DESIGNATION LEVEL B PROPERTY TAXES $48,338.78 IMPROVEMENTS Three-storey plus basement retail building GROSS INCOME $335,166 Rent Roll Unit Floor Tenant Size (SF) Term Rent per SF Annual Rent Main & 301 New Amsterdam Café 3,500 SF Month - Month $36.11 $126,384 Basement Main & 307 Cannabis Culture 3,500 SF Month - Month $32.58 $114,030 Basement Second & 303 Cannabis Culture 6,000 SF Month - Month $15.79 $94,752 Third CONTACT US CECILIA TSE Personal Real Estate Corporation Senior Vice President 778 881 6813 [email protected] STEVE FAME Personal Real Estate Corporation Senior Vice President 604 761 3263 [email protected] ROBERT DOWN Personal Real Estate Corporation Vice President 604 499 4700 [email protected] DAN CHATFIELD Senior Associate 604 318 6313 [email protected] COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Vancouver, BC V6C 2R6 TEL: 604 681 4111 FAX: 604 661 0849 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). © 2019. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls Inc. PO12118.
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