Mixed-Use

524 Culduthel

524 Culduthel Rd, Victoria, BC V8Z 1G1

Listing Price: $10,000,000

Lot Size
1.40 acres
Price/Acre
$7,142,857
Land Type
Land

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 524 Culdethel Road, Saanich, B.C. The Subject Property represents a unique combination of light industrial income-producing improvements, well-situated on a 1.40 acre parcel of land, with considerable underlying development potential under the council supported Uptown-Douglas Plan.

Investment Highlights

  • Stage 2 PSI completed February 2021 by Active Earth identified no soil or groundwater contamination.
  • Property is held by a bare trust with opportunity to acquire the shares
  • Located across from Uptown Shopping Centre, a major, mixed-use shopping complex featuring daily-needs retailers
  • Centrally located, the Subject Property benefits from easy accessibility and connectivity via car, transit, bike, and foot
  • Desirable asset class with 36,645 SF (+/-) of light industrial space on a 1.40 acre site, providing low-risk optionality with long-term development potential supporting mixed-use up to 8-storeys
  • The Subject Property falls within the Uptown-Douglas Plan area, which aims to focus growth in Saanich's major centre through additional density.
  • Immediate upside potential through renewal and re-letting as over 50% of the rentable area is either vacant or on month-to-month tenancy

Exclusively Listed By

Listing Price: $10,000,000

Lot Size
1.40 acres
Price/Acre
$7,142,857
Land Type
Land

Investment Highlights

  • Stage 2 PSI completed February 2021 by Active Earth identified no soil or groundwater contamination.
  • Property is held by a bare trust with opportunity to acquire the shares
  • Located across from Uptown Shopping Centre, a major, mixed-use shopping complex featuring daily-needs retailers
  • Centrally located, the Subject Property benefits from easy accessibility and connectivity via car, transit, bike, and foot
  • Desirable asset class with 36,645 SF (+/-) of light industrial space on a 1.40 acre site, providing low-risk optionality with long-term development potential supporting mixed-use up to 8-storeys
  • The Subject Property falls within the Uptown-Douglas Plan area, which aims to focus growth in Saanich's major centre through additional density.
  • Immediate upside potential through renewal and re-letting as over 50% of the rentable area is either vacant or on month-to-month tenancy

Investment Overview

The Vendor has exclusively retained Marcus & Millichap REIS Canada Inc. to facilitate the sale of 524 Culdethel Road, Saanich, B.C. The Subject Property represents a unique combination of light industrial income-producing improvements, well-situated on a 1.40 acre parcel of land, with considerable underlying development potential under the council supported Uptown-Douglas Plan.

Exclusively Listed By

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