Downtown West End Development Site_Property for Sale

1020-1036 9 Avenue Southwest, Calgary, AB, T2P 1L9, CA

Downtown West End Development Site

Asset description

Downtown West End Development Site (the "Site") represents an exceptional opportunity to acquire a 100% freehold interest in a 37,028 square feet ("SF") of development land in the Downtown West End neighbourhood of Calgary, Alberta.

The Site has an approved land designation with the potential to develop up to 260,000 SF of residential, commercial, and mixed-use density. A portion of the Site is currently occupied and leased to a strong covenant: Enterprise Rent-A-Car, which will provide purchasers with reliable holding income.

The Site benefits from superior frontage and exposure to 9 Avenue SW and major arterial roadways. The Site occupies a prominent position in downtown Calgary, as its location offers superb access to everything the downtown core has to offer, including world class restaurants, shopping centres, hotels, numerous public transportation options, high rise apartment towers, the Central Business District, as well as Bow River and the regional pathway network.

The Site is being offered for sale at a reduced asking price of $5,950,000. For more information, please contact the Advisors.

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Attributes

Land area gross

3,440 sm

Zoning

DC Direct Control 47Z92

Asking price

¥642,430,000

Media

Investment highlights

Desirable Location in Calgary Downtown's West End - The Site occupies a prominent corner lot position along 9 Avenue SW and 10 Street SW, in the Downtown West End neighbourhood of Calgary, Alberta.

Land Use - The land use designation is Direct Control (47Z92), permitting a maximum of 3.0 Floor Area Ratio ("FAR") for commercial uses and a maximum of 7.0 FAR for residential uses, allowing for a high density residential development. The approved zoning allows for a potential of up to 260,000 SF of density. There is potential to assemble the adjacent parcel located directly east of the Site, adding 13,031 SF to the size or an additional 91,000 SF of future density.

Holding Income - The Site is currently occupied and leased to a strong covenant: Enterprise Rent-A-Car, which will provide purchasers with reliable holding income.