Granada Court
1233 Fairfield Road

SOLD 

Cushman & Wakefield ULC (“C&W”) is pleased to announce the success sale of Granada Court, a 60-suite multifamily asset centrally located in Victoria’s Fairfield neighbourhood at 1233 Fairfield Road, Victoria, BC (the “Property”). Granada Court boasts favourably programmed suites that appeal to a wide market segment of urban professionals, young families, retirees, and students.

The Property consists of approximately 51,000 square feet of net rentable area improved on a 49,090 square feet (1.13 acres), street-to-street lot. The Property offers multiple access points and benefits from its downtown adjacent location along with highly accessible outdoor amenities at Beacon Hill Park and necessity-based amenities in the nearby Cook Street Village. Additionally, the Property has been managed to an institutional standard with renowned property manager, Devon Properties handling all management services. Furthermore, the Property is ideally zoned for up to 1.6 FSR of density and may be bonused up to 2.5 FSR through city policies representing a medium-term exit strategy secured through underlying land. 

Investment Highlights

• Highly desirable location in one of Canada’s soundest Multifamily Investment Markets
• Over 51,000 net rentable square feet of favourably programmed extra large units
• 40% market-to-market of rental growth
• Institutional-quality management by renowned property management firm
• Large land base zoned for multifamily residential use

Building Amenities

• On-site parking providing covered and surface stalls
• Secured indoor bike storage room 
• Tenant storage rooms with large lockers
• Spacious laundry room containing three (3) washers, three (3) dryers, and one (1) bathroom
• Pet-friendly building
• Access ramps and elevator providing wheelchair accessibility 
• Management office