11 high STrEET - Colliers International

FOR
SALE
11 high street
ladysmith, BC
Colliers International - Victoria
1175 Douglas Street • Suite 1110 • Victoria, BC • V8W 2E1
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Our Knowledge is your Property

FOR
SALE
11 HIgh Street
ladysmith, BC
Royal Oak Business Park
4248 Glanford Avenue
Victoria, BC
Opportunity:
To acquire a 9,117 square foot building in downtown
Ladysmith with future redevelopment potential. The
property consists of 7,200 sq. ft. of land and a two-storey
retail/warehouse building, comprising 5,669 square feet
on the ground floor and 3,448 square feet on the second
floor. The Vendor completed significant building upgrades
just four years ago.
Area Description:
Situated on the eastern shores of Vancouver Island,
the Town of Ladysmith is a growing community with a
population now in excess of 8,000. Like much of the Mid
Island area, Ladysmith has seen annual population growth
in recent years that is higher than the BC average. The
town is located just 88 km north of Victoria and 23 km
south of Nanaimo.
Ladysmith offers world-class outdoor recreational
opportunities; first-class shopping and amenities in the
historic and quaint downtown area; and waterfront
activities at pristine Transfer Beach and Ladysmith Harbour.
The town has seen substantial development and a priority
has been the downtown revitalization project preserving
and enhancing Ladysmith’s unique history.
Location:
11 High Street is located in the downtown core of
Ladysmith approximately ½ block from Esplanade Avenue
(Island Highway) and ½ block from 1st Avenue, Ladysmith’s
main commercial street. The site features high visibility
and boasts views of Ladysmith Harbour. The property is in
proximity to all of downtown Ladysmith’s amenities and
all major transportation routes. Surrounding properties
are mainly office and retail buildings, with some mixed
residential also present.
Site Information:
The subject property comprises 0.17 acres or 7,200 square
feet and is rectangular in shape. It features +/- 60 feet of
frontage on High Street, and is bordered on its northeast
and southeast(rear) sides by lanes which provide access
for loading etc. The property has very good exposure
to High Street. Although in this locale High Street is
steeply sloping, the property possesses level topography.
Pedestrian and vehicle access are directly from High
Street. Parking, as is common in downtown Ladysmith,
is streetfront in this area, and shipping/loading for the
building is made from the lanes bordering the side and
rear of the building. The rear, southwest corner of the
property, comprised of approx. 1500 square feet, is an
open fenced area once used as a garden centre . The site
is fully serviced with water, sewer, hydro, telephone and
natural gas.
Site Improvements:
The site possesses a refurbished timber framed retail/
warehouse building with an open retail area on the ground
floor; and warehouse and office area on the 2nd floor.
Improvements:
Main Floor:
Retail area
Storage
2nd Floor:
Finished office/staff area/stairway
Warehouse
Total
Main Floor
• Predominantly open retail space
• Wood strip flooring, extensive t-bar ceiling,
fluorescent lighting
• Two piece washroom
4,989 sq. ft.
680 sq. ft.
5,669 sq. ft.
1,220 sq. ft.
2,228 sq. ft.
3,448 sq. ft.
9,117 sq. ft.
2nd Floor
• Former roof was raised to allow for full height utility
(8-11 feet)and create full 2nd floor. Warehouse space in
excess of 2,228 square feet.
• Office space (1115 sq.ft.) nicely finished and features
painted drywall, tile and carpet flooring, and t-bar
ceilings. Comprised of offices, staff room with full
kitchenette, 2 – 2 piece washrooms, mechanical
room, and other utility space. Heating is via hot
water baseboard system.
The foundations of the building have been replaced
with concrete footings and perimeter walls. New siding,
windows, and doors were also recently added to the
building. The roof is metal panel and torch on membrane.
Electrical service is 200 amp. HVAC is via forced air and
radiant hot water. The 2nd floor office has a wall air
conditioning unit. Remaining economic life of the building
is estimated at 43 years.
Zoning:
C-2 General Commercial
Permitted uses include: recreation facility, bakery, personal
services, office, business or commercial school, financial
institution, hotel, publishing and printing, assembly
hall, restaurant, retail store, transportation terminal,
warehousing accessory to retail sales, gift souvenir, hobby
and craft shops, retail sales, repair shops, etc.
Legal Description:
PID: 005-202-191
Lot 17, Block 9, District Lot 56, Oyster District, Plan 703
PID: 005-202-213
Lot 18, Block 9, District Lot 56, Oyster District, Plan 703
Assessed Value (2009):
Land Improvements Total
$144,000 $383,000 $517,000
Taxes (2009):
$8,789.10
Purchase Price:
Five hundred and ninety-nine thousand Dollars ($599,000)

FOR
SALE
11 HIgh Street
Ladysmith, BC
For further information please contact:
JASON WINTON
250.740.1060 EXT:2223
Jason.Winton@colliers.com
BRAD BAILEY
250.740.1060 EXT:2222
Brad.Bailey@colliers.com
COLLIERS INTERNATIONAL
335 Wesley Street, Suite 207
Nanaimo, BC V9R 2T5
T. 250.740.1060
F. 250.740.1067
www.colliers.com
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335 Wesley Street • Suite 207 • Nanaimo, BC • V9R 2T5
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