Property Overview

  • Status
    Available
  • Address
    Granada Court
    1233 Fairfield Road
    Victoria, BC
    Canada
  • Type
    Multifamily
  • Neighbourhood
    Fairfield
  • # of Units
    60
  • # of Storeys
    4
  • Year Built
    1970
  • PID
    003-188-256
  • Lot Size
    49,090 SQFT
  • Zoning
    R3-AM-2
  • Price
    Please Contact Listing Agents
  • Building Type
    Wood-Frame
  • Confidentiality Agreement
  • The Offering

    Cushman & Wakefield ULC (“C&W”) is pleased to present to the market a 100% freehold interest in 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. Finally, the existing rent roll demonstrates a clear path to rental revenue growth through upgrades to existing units upon turnover that are supported by strong market fundamentals and compound the investment upside which Granada
    Court is presenting to the market.

     

    Investment Highlights

    • Highly desirable location in one of Canada’s soundest Multifamily Investment Markets
    • Over 51,000 net rentable square feet of favourably programmed residential units
    • Proven path to rental revenue 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 

     

     

    Access to the Due Diligence Data Room

    Interest parties are encouraged to contact the exclusive property advisors to receive access to a due diligence data room upon execution of a Confidentiality Agreement "CA". Please contact the exclusive property advisors for pricing guidance and offer submission guidelines.

    David Venance
    Executive Vice President

    David Venance

    Cordell Lloyd
    Associate

    Cordell Lloyd

    Property Location