The Property has the potential for strong holding income with its 36 large strata condominium units and over 23,500 SF of net rentable area from its current improvements. At the new, reduced Asking Price of $28,000,000, a buyer could yield close to 3.0% by lightly renovating the units and renting the suites at market rates.
This tower development site is located what will soon be one of the highest luxury corridors in Vancouver on the north side of Burnaby Street in between Burrard Street and Thurlow Street in Vancouver’s West End. The downtown core and the city’s finest amenities are in close proximity to the property as are Sunset Beach, English Bay, and Stanley Park just a few minutes down the road. The WalkScore and TransitScore for the property are both 97 and Lord Roberts & King George Schools are within walking distance.
There arguably isn’t a more central location for development left in Vancouver’s downtown peninsula, offering a developer the chance to build condominium surrounded by truly world class amenities. Within a 15-minute walk of the site are three SkyTrain stations, Pacific Centre Mall, Alberni Street’s luxury retailers, Robson Street’s 150 shops, English Bay Beach and Sunset Beach, and some of the city’s best fine dining.
The West End is a beautiful, quiet neighborhood that borders the Central Business District, English Bay, and the world-famous Stanley Park – likely the city’s most desirable public attraction. The area’s appeal is further enhanced by vibrant commercial corridors that feature trendy boutiques, restaurants, coffee shops, and community amenities.