DESCRIPTION
A Rare opportunity to purchase a well located mixed-use development site with substantial holding income in the highly coveted Park Royal neighbourhood.
Located on a quiet residential street in an increasingly desirable area of West Vancouver, this 21,828 SF residential development site is an assembly of two separately owned office buildings with potential to develop up to an 8-storey residential building with a maximum density of 2.0 FAR.
The site is located on Clyde Avenue, half a block to Taylor Way and just a 2-minute walk from Park Royal Shopping Centre. The subject site offers excellent access to public transit and Trans-Canada Highway, providing easy access to all parts of Metro Vancouver.
Its unparalleled location boasts an 8-minute drive to Downtown Vancouver, which offers the utmost blend of convenience and lifestyle amenities.
DEVELOPMENT POTENTIAL
Opportunity to purchase a large-scale mixed-use development site in the rarely available West Vancouver market
Large 21,828 SF site area and layout provides maximum flexibility for developers
Located in the heart of West Vancouver within immediate proximity to Park Royal Shopping Centre
Potential to develop up to 8 storeys with a maximum density of 2.0 FAR, subject to city approval
Holding income from existing office buildings offsets delays in planning process
The Property has all the charms, beauty and amenities offered in West Vancouver with direct access to Vancouver and the Lions Gate Bridge
The land surrounding the Property offers some of the most breathtaking natural scenery, parks and public open spaces in all of Canada
PROPERTY SPECIFICATIONS
Site Area: 21,828 SF (Combined)
Improvements: The Property is currently improved with two (2) office buildings with surface parking - Current in-place income will provide holding income for future development
Current Zoning: CR-1
Future Land Use High-Density Apartment Residential
FAR (projected): 1.75 - 2.0 outright with the option for additional 0.25 FAR to be secured as market rental
Gross Taxes (2016): $50,093.55
Assessed Value (2017): $5,026,600
LEGAL DESCRIPTION
Civic Addresses: XXX Clyde Avenue, West Vancouver, BC
Legal Description, PID: Confidential
Civic Addresses: XXX Clyde Avenue, West Vancouver, BC
Legal Description, PID: Confidential
LOCATION
Neighbouring one of Metro Vancouver’s most prominent and innovative retail destinations, the Property is ideally situated on the breadth of amenities available, the degree of walkability, and unparalleled community atmosphere.
Located on Clyde Ave, half a block to Taylor Way and just a twominute walk from Park Royal Shopping Centre, the subject site offers excellent access to public transit and Trans-Canada Highway, providing easy access to all parts of Metro Vancouver. Its unparalleled location boasts an 8-minute drive to Downtown Vancouver, which offers the utmost blend of convenience and lifestyle amenities.
To find out more about this Investment Opportunity and the FEASIBILITY STUDY of this project, please contact Han Lee at 778 789 9688.