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Positioning an Estate Property for Mixed-Use Development

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Excellent Rezoning Potential

The Green Thumb Nursery in growing Nanaimo was a property whose existing zoning did not represent the highest and best use.  The Colliers team advised the owner of the property, a family estate, on how to position it as a rezoning candidate and then targeted prominent developers by showcasing its future upside. Multiple offers were received as a result and the sellers were able to maximize the value of the property.

One of the Last North End Infill Sites

The Colliers team recognized the unique nature of this offering and marketed it to many of Canada’s biggest developers as one of Nanaimo’s last large acreages suitable for infill development. In addition to being surrounded by mature residential neighborhoods, the site is surrounded by major commercial developments and located adjacent to Nanaimo’s major traffic artery, Highway 1, making it a highly sought-after neighborhood for development.

Collaborative Approach

Colliers worked collaboratively with the Estate, their legal advisor and their executor/accountant to secure a buyer who satisfied all stakeholders.

 Key Facts:

•           44.18 acre site
•           Asset Type: Urban parcel - mixed-use development site