The property is strategically positioned in Surrey’s City Centre District and is bounded by King George Boulevard, Fraser Highway and East Whalley Boulevard. There is significant and stable existing holding income on property anticipated to benefit from significant capital appreciation. There is opportunity for near-term development given complete land assembly, demolition clauses on 2/3 of existing leases, and City of Surrey’s stated objectives and commitment to Central Surrey as a focal point for future growth. Approximately 2.4 million buildable square feet based on conservatively estimated allowable density of 5.5 FSR on gross site area. The site is located in the comprehensive mixed-use area, with a primary focus on concentrated residential development with secondary office uses and ground floor retail along street front. Up to 20% bonus density available for provision of community benefits including social housing or community amenities.
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