1818-1862 West Broadway Sells in $56 Million Deal

An assembly of properties at 1818-1862 West Broadway, on the South side of Broadway just West of Burrard Street, has sold for $56,250,000. The combined site has 300 feet of frontage and a total site area of 37,500 SF. The purchase price equates to $500 per buildable SF.

1818-w-broadwayThe site was listed and sold by Colliers earlier this year: http://www.collierscanada.com/19189#.WAfIb5Dn_ug

There is no word on immediate plans for redevelopment.

West End Co-Op Sells in $40.5 Million Deal

A co-op located on a 17,292 SF site in the West End of Vancouver has sold to a developer for $40,500,000.

Harcrest Apartments, located at 1055 Harwood Street, is a 3-storey 28-unit walkup building built in 1947. The property was listed for sale earlier in the year. The site was designated under the West End Community Plan to allow a new tower up to 300 feet in height, provided that some of the new building is provided as social housing.

1055 Harwood_1 1055 Harwood

 

Reliance Properties Acquires 1770 Davie St. in $43MM Deal

Reliance Properties has acquired a landmark apartment and retail property in the West End for $43,000,000. The building was built in 1958 and includes a 58-unit 16-storey concrete apartment highrise and three retail units including Milestones, and is prominently located at the intersection of Denman and Davie.

1770 DavieThe building had been listed for sale by Avison Young without an asking price and sold after receiving multiple offers.

SOLD: 1290 Homer Street

1290 Homer_SoldI am pleased to announce the sale of 1290 Homer Street, a heritage style office building located at the corner of Homer and Drake Streets in the Yaletown area of Downtown Vancouver. The building sits on a 50.5 x 120 ft site and is an excellent candidate for repositioning and/or redevelopment.

The property sold for $9,750,000.

Please contact me at david.taylor@colliers.com for details.

South Granville Office Building/Site Sells in $19.5MM Deal

A two-storey office building at 1525 West 8th Avenue has sold for $19,500,000. The building sits on a 13,680 SF C-3A zoned property and has potential for redevelopment in the future to include residential. Based on the anticipated base density of 3.0 FSR, the price equates to $475 per buildable SF.

1525 West 8thThe building had been listed for sale earlier this year. Here is a promotional video outlining the property, including a rendering of a potential future condo tower on the site:

1525 West 8th Ave, Vancouver, BC from Cushman & Wakefield | Vancouver on Vimeo.