The owners of Strata Plan VR 120 engaged Colliers to market their 4.27 acre property in the Arbutus neighbourhood on Vancouver’s West Side.
This trophy site drew significant interest from both international and local buyers due to the unique scope of the property. Despite its size, the sales process was challenging as there was no guidance from the City of Vancouver as to the future potential of the land as a development site. The Colliers team was able to secure an offer at an unprecedented purchase price from an offshore bidder. This offer, including a two-year lease back period, was presented to the BC Supreme Court and a successful sale process completed in September, 2018. The owners, with the assistance of the Colliers team, capitalized on the market momentum and competitive bidding process to recognize tremendous value from the sale.