FOR SALE

FOR SALECOURT ORDERED!Rare Government Street Property1990 Fort Street, Victoria B.C.1020 Government Street, Victoria B.C.Offered Exclusively By:Rick Pettinger Phone: (250)382-3400J.J.Barnicke Victoria Ltd. Fax: (250) 382-1333rick@jjbvictoria.com

1020 Government Street, VictoriaLocationThis property is located in the very centre of downtown Victoria’s tourist/commercial area. Due tothe high volume of foot traffic from tourists and locals, Government Street commands the highestretail rents on Vancouver Island.The Heart of Victoria – Government StreetGovernment StreetThe Heart of Victoria – Government StreetIn the late nineteenth-century Government street was anelegant and profitable business address. Today, behind manyof the original shop facades, the street serves as the majortourist thoroughfare in the downtown area. All along thestreet are unique character shops, which offer everythingfrom pieces of Old England to local aboriginal art. Somemerchants, such as Murchies, Rogers' Chocolates and E.AMorris Tobacconist have operated in Victoria since the latenineteenth century. In addition to their historic architectureand interiors, these stores offer interesting glimpses of therelationship between old and new Victoria. As a result,Government Street is likely to remain a tourist hot-spot andthe City’s most traveled pedestrian thoroughfare for decadesto come.Government Streetwww.jjb.com

1020 Government Street, VictoriaImprovementsThe site is improved with a high profileretail building constructed in 1908,according to the City of Victoria. Thebuilding comprises a main floor ofapproximately 1,655 square feet with highceilings and large windows looking out atGovernment Street. There is also a veryusable basement area of approximately thesame size, which is used for storage. Atthe rear of the store is a second floor officearea of approximately 500 square feetwith a skylight and windows overlookingthe store area. There is an easement inplace with the property owner to the Westproviding loading and unloading accessfor the subject building. Heating andcooling is provided by roof mountedelectric fired heat pump units.Area MapSite DescriptionThe site has a frontage on Government Street of approximately 22.5 feet with a return depth of 73 feet,more or less for a total site are of 1,655 square feet approximately.Subject Property Rear Loading Area Basement Storage AreaSecond Floor OfficeSeeing is Believing Retail Storewww.jjb.com

1020 Government Street, VictoriaLease SummaryThe property is leased to retailer Seeing is Believing. The lease was renewed in the summer of 2005for 5 years until April 30, 2010, at an annual rental of $85,400 ($51.60/sq.ft. on the main flooronly). It is thought that the current market rent for this area is in the range of $60-$65/sq.ft., as wellthere should be some rental value on the basement and second floor office area. There is no leaserenewal provision beyond April 2010. The present lease is absolute net with the tenant paying 100%of taxes and all operating costs.Zoning CA-3CThe zoning allows for a variety of uses, including retail sales, medical services, offices andrestaurants.Legal DescriptionLot 6, Block 75, Victoria District, Plan 219Taxes (2005) $33,327Assessments (2006)Land $ 517,000Improvements $ 742,000Total $1,259,000Price:One Million Eight Hundred Thousand ($1,800,000) DollarsFor Further Information Please Contact:Rick Pettinger(250)382-3400rick@jjbvictoria.comInformation contained herein has been obtained from the owners or sources deemed reliable by JJBarnicke Victoria Ltd.While we have no reason to doubt its accuracy, we regret that we cannot guarantee such information. All measurements andother information herein should be independently verified by the reader or prospective user and is subject to the user’s owninspection of the premises and due diligence work and to the user’s satisfaction with the results of such review.www.jjb.com