REDEVELOPMENT OPPORTUNITY IN LITTLE ITALY 367,369 & 371 PRESTON STREET OTTAWA, ONTARIO OTTAWA CENTRAL BUSINESS DISTRICT 367, 369 & 371 PRESTON STREET 367,369,371 PRESTON STREET | OTTAWA, ONTARIO STREET | OTTAWA, 367,369,371 PRESTON CBRE | MARKETING FLYER THE OPPORTUNITY CBRE Limited (“CBRE” or the “Advisor”) has been retained by the Vendor to act as its exclusive advisor to PROPERTY DETAILS facilitate the sale of 367, 369 & 371 Preston Street (the “Property”), an urban land assembly located in Ottawa, Ontario. Situated in the heart of Ottawa’s Little Italy neighbourhood, the Property occupies a 367 PRESTON STREET prominent position at the corner of Preston Street and Beech Street, the neighbourhood’s two main thoroughfares. The 0.21 acre site is currently improved with three duplexes containing five apartment rental LEGAL DESCRIPTION LOT 8 ON PLAN 194250, CITY OF OTTAWA units and one commercial (restaurant) unit. The buildings are all fully-leased, providing significant holding PIN 041040382 income. The site is zoned Traditional Mainstreet, which permits a broad range of commercial and residential Duplex: uses. Given its high-profile location in the heart of a growing urban neighbourhood, the Property is well- PROPERTY TYPE 3-bedroom Ground Floor Apartment positioned for greater density. 2-bedroom Second Floor Apartment LOT SIZE ~ 3,006 square feet (32.67’ x 92’) ZONING TM - Traditional Mainstreet 369 PRESTON STREET 367 PRESTON STREET LEGAL DESCRIPTION LT 9, PL 194250 ; OTTAWA/NEPEAN PIN 041040032 369 PRESTON STREET Duplex: 2-bedroom Ground Floor Apartment PROPERTY TYPE 371 PRESTON STREET 3-bedroom Second Floor Apartment 3 Separate bedrooms + Kitchen in Basement LOT SIZE ~ 3,006 square feet (32.67’ x 92’) ZONING TM - Traditional Mainstreet 371 PRESTON STREET LEGAL DESCRIPTION LT 10, PL 194250 ; OTTAWA/NEPEAN PIN 041040033 Duplex: PROPERTY TYPE 1,150 Sq. Ft. Commercial Ground Floor Unit 3-bedroom Second Floor Apartment LOT SIZE ~ 3,006 square feet (32.67’ x 92’) ZONING TM - Traditional Mainstreet TOTAL LAND ASSEMBLY ~ 9,017 square feet (98’ x 92’) ASKING PRICE $2,690,000.00 4 55 367,369,371 PRESTON STREET | OTTAWA, ONTARIO STREET | OTTAWA, 367,369,371 PRESTON CBRE | MARKETING FLYER SURROUNDING AREA OTTAWA CENTRAL BUSINESS DISTRICT LEBRETON FLATS NEIGHBOURING DEVELOPMENTS 1. CLARIDGE ICON CHINATOWN CENTRETOWN 2. RICHCRAFT SKY 3. 435 PRESTON LITTLE ITALY A BRONSON AVENUE 4. DOMICILE APTS B BOOTH STREET 367, 369 & 371 PRESTON STREET MERIALE ROAD NEARBY AMENITIES ROCHESTEREST STREET UNT CLUB ROAD C A Yogatown D E B Starbucks Coffee F C Giovanni’s D Absolute Comedy PRESTON STREET 4 E Greco Fitness 3 G F Allegro Ristorante G Pub Italia H H Raw Pulp & Grind CLEOPATRA DRIE I I Dows Lake Dental CAMELOT DRIE J CIBC K 6 K Ottawa Hospital J 1 7 2 CARLING AVENUE 367,369,371 PRESTON STREET | OTTAWA, ONTARIO STREET | OTTAWA, 367,369,371 PRESTON CBRE | MARKETING FLYER DEVELOPMENT OVERVIEW AS-OF-RIGHT ZONING The Property is designated Traditional Mainstreet, which under the Official Plan permits a broad range of commercial and residential uses. The Official Plan has set a maximum building height limit of 20 367, 369 & 371 PRESTON STREET metres or six storeys but doesPreston-Carling not set a maximum Secondary floor space Planindex. Preston-Carling Secondary Plan PRESTON-CARLING DISTRICTSchedule SECONDARY B Height andPLAN Tower Location Schedule B Height and Tower Location Approved by Council in July of 2014, the Preston-Carling District Secondary Plan is the most recent site-specific policy document guiding development in the area. The Plan recognizes the Preston-Carling District as a significant re-urbanization area and is intended to guide an orderly transformation of the area into a future downtown district. The Plan provides detailed land use policies for the area as well as criteria for key built form elements that are important to the community. Built form guidelines set forth in the Secondary Plan will ensure transition in height and density in order to protect the surrounding stable neighbourhoods and open spaces. All new development proposals within the Preston-Carling District will be subject to design review by the City’s Urban Design Review Panel. 8 9 367,369,371 PRESTON STREET | OTTAWA, ONTARIO STREET | OTTAWA, 367,369,371 PRESTON CBRE | MARKETING FLYER NODE OVERVIEW | LITTLE ITALY Located just outside of Ottawa’s downtown core, Little Italy is an established urban neighbourhood with an eclectic mix of boutiques, cafés, bars and award-winning restaurants. Preston Street, also known as “Corso Italia”, serves as the main artery for pedestrian and vehicular traffic leading right to Dow’s Lake at its southern end. Little Italy is a short walk or ride to some of Ottawa’s most picturesque walking and cycling trails including; Experimental Farm, Rideau River, Rideau Canal and Ottawa River Pathways. The O-Train “Trillium Line” runs parallel to Preston Street and will connect Little Italy to the rest of the City via Bayview Station on Ottawa’s new LRT system “Confederation Line” slated for completion in 2018. Little Italy has recently entered a phase of re-urbanization and intensification and is quickly becoming one of Ottawa’s most inviting neighbourhoods to live, work and play. Nearly one-dozen high-density residential developments are either proposed, approved or under construction in Little Italy, including three towers that 2,400 10,916 NEW RESIDENTIAL DAYTIME will hold top spots for the City’s tallest buildings. In total, more than 2,400 new residential dwellings are at various stages of development. These projects will draw in a host of new amenities and will dramatically UNITS UNDERWAY POPULATION reshape the landscape of the south-end of Little Italy in the coming years. +50 MONTH OF JUNE RESTAURANTS ITALIAN WEEK FESTIVAL 10 11 367,369,371 PRESTON STREET | OTTAWA, ONTARIO STREET | OTTAWA, 367,369,371 PRESTON CBRE | MARKETING FLYER SALE PROCESS Based on information contained in this information package and other information contained in the data room, access to which will be provided electronically and upon signing a Confidentiality Agreement, interested parties are invited to submit an offer to purchase. No offer, regardless of its form and content will create any binding legal obligations upon the Seller or CBRE. Neither the Seller nor CBRE make any representation, warranty, or any agreement whatsoever, that the Seller will accept any agreement of purchase and sale, before or after negotiations, or, that the Seller or CBRE, shall compensate any participant for any costs incurred in its participation in the process. Offers will be evaluated on the consideration offered for the Property, the prospective buyer’s ability to complete the transaction and the proposed terms of closing. Prospective buyers should note that the Seller is under no obligation to select any offer. DATA ROOM Upon signing a Confidentiality Agreement, qualified parties will be provided access to the electronic data room. The data room contains all of the relevant documents related to the property. DUE DILIGENCE The Property is being offered on an “as is, where is” basis, and that no such representations or warranties have been made by the Vendor or its agent as to the condition of the Property or any buildings located thereon. Parties are invited to inspect the Property and review all due diligence material available in the data room, prior to the submission of any offer. Property inspections may be arranged by appointment through CBRE. ADVISOR The Advisor is acting solely as the agent for the Vendor and not as the agent for the purchaser. All inquiries regarding the Property or any information contained in this CIM should be directed to CBRE Limited, Brokerage, as Advisor for the Vendor: CBRE Limited, Brokerage Erik Falardeau* Daniel Niedra Ottawa Office Vice President Sales Representative 333 Preston Street, 7th Floor 613 788 3791 613 691 2113 Ottawa, Ontario K1S 5N4 [email protected] [email protected] *Sales Representative 12 13 CBRE Limited, Real Estate Brokerage 333 Preston Street 7th Floor | Ottawa, Ontario | K1S 5N4 | T 613 782 2266 | F 613 782 2296 | www.cbre.ca ERIK FALARDEAU* DANIEL NIEDRA Vice President Sales Representative 613 788 3791 613 691 2113 [email protected] [email protected] *Sales Representative This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights eserved.R.