The James
345 Quebec Street

FOR SALE
The James | 345 Quebec Street, Victoria

Opportunity

Avison Young and Cushman & Wakefield are proud to present The James at Harbour Towers (the “Property”), a landmark 12-storey concrete rental tower situated at 345 Quebec Street in the heart of Victoria’s acclaimed James Bay neighbourhood. The structure was originally built in 1973 but was fully rebuilt in 2020 as a 219-unit apartment community, offering a diverse suite mix of studio, one-bedroom, one-bedroom plus den, two-bedroom, and penthouse residences across 127,865 square feet of well-maintained, institutional-quality rentable area.

Investment Highlights

UNBEATABLE LOCATION: James Bay is one of Western Canada’s most desirable apartment nodes, surrounded by the ocean, parks and steps from Downtown Victoria, the Inner Harbour, BC Legislative buildings, and a myriad of local shops, restaurants and galleries.

FULLY REBUILT: Substantial capital improvements and building system upgrades completed during the 2020 hotel-to-residential conversion.

BEST-IN-CLASS AMENITIES: A full suite of resort-style amenities including an indoor pool, hot tub, sauna, and modern fitness centre is complemented by indoor and outdoor gathering spaces, a private courtyard, and communal BBQ area.

PROVEN OPERATIONAL PERFORMANCE: The James has been managed and maintained to an exceptionally high standard, demonstrated by a strong historical occupancy track record of close to 100%, an extensive waiting list, and significant rental growth.

COMPELLING MARKET FUNDAMENTALS: There are only 191 rental units currently under construction in James Bay, and no concrete rental projects in the development pipeline. James Bay’s exclusivity and scarcity of high-quality concrete rental product afford The James a highly durable competitive moat, ensuring consistent investment performance.

IMMEDIATE SCALE: The James is the largest concrete multifamily asset listed in Victoria, offering the opportunity to establish significant multifamily scale.

UNIQUE OFFERING: One of the largest rental assets ever offered in Victoria.

ACCRETIVE DEBT: The two mortgage tranches charged against the Property have a blended interest rate of 2.96%.

BARE TRUST: Title to the Property is held in a bare trust.

For More Information, please contact a member of the exclusive property advisors.

>>>Brochure available for download on the top right of this page