FOR SALE 426-454 Bernard Avenue Kelowna, BC PROPERTY DETAILS: 0.366 acre development site in the heart of Downtown Kelowna Previously approved for a mixed use development Well located in the heart of Downtown Kelowna along Bernard Avenue, Kelowna s historic main street Macdonald Realty Kelowna
FOR SALE 426-454 Bernard Avenue Kelowna, BC HM Commercial Group is pleased to offer for sale 426-454 Bernard Avenue, a 0.366 acre assembly zoned C7 in Downtown Kelowna. This opportunity offers a 3 property assembly totaling approximately 0.366 acres. The previous development permit has expired, so a buyer would need to undertake re-applying for a development permit, and do their own due diligence on this matter. Situated along Bernard Avenue between Lululemon and Scotiabank, this development site will offer spectacular views of Lake Okanagan and the surrounding mountains, and is less than a 5 minute walk to City Park and the new Marina. Major construction and increased density is happening throughout Kelowna s Downtown. This increase in commercial density is creating a demand for higher density residential to house all of these employees. Interior Health Authority alone (1 block away) has more than 800 employees Okanagan Centre for Innovation, a 6 storey 140,000 sf centre is nearing completion, but is already 85% pre-leased. It is a major attraction for the $1.3 Billion Tech Sector that makes the 25-34 year old demographic the largest growth market in Kelowna Kerkhoff Construction is already 100% pre-sold on its 20 storey tower at 1151 Sunset Drive Vacancy rate for rental apartments is still at 0.7% Additional information available at www.growingdowntownkelowna.com PRICE: $6,950,000 2
PROPERTY DETAILS CIVIC ADDRESS 426-436 Bernard Avenue 440-446 Bernard Avenue 450-454 Bernard Avenue LEGAL DESCRIPTION Lot 5, Block 16, District Lot 139, Osoyoos Division Yale District, Plan 462, Except The West 17.05 Feet Thereof Lot 4, Block 16, District Lot 139, Osoyoos Division Yale District, Plan 462 Lot 3, Block 16, District Lot 139, Osoyoos Division Yale District, Plan 462 PID 012-358-371 012-358-410 007-098-642 LAND AREA +/-3,978 SF +/-6,003 SF +/-6,003 SF ZONING (CURRENT) C7, Central Business Commercial C7, Central Business Commercial C7, Central Business Commercial PROPERTY TAXES $34,635 (2016) $20,080 (2016) 3
AERIAL MAP Well located in the heart of Downtown Kelowna along Bernard Avenue, Kelowna s historic main street. These properties feature an unbeatable location, less than a 5 minute walk to Lake Okanagan and the new Marina. Surrounded by a host of boutique shops, local restaurants, and professional services. 4
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CITY OF KELOWNA DOWNTOWN BUILDING HEIGHTS 6
KELOWNA & AREA Kelowna, located in the heart of the Okanagan Valley, is a growing economic hub named the top entrepreneurial city in Canada this year by the Financial Post. Kelowna is a recreational lakeside paradise with acres of scenic parkland and sandy beaches. Cradled within a range of breathtaking mountains, this urban sanctuary is bolstered by a pristine lake, pine forests, orchards, vineyards, sandy beaches, and unparalleled amenities. Kelowna has the fastest growing population in British Columbia and the fourth fastest in Canada. With a regional population of approximately 190,000, an overall trading area of 520,000, and infrastructure to support business, Kelowna is the largest urban centre between Vancouver and Calgary. Diversification and proximity to world markets are among Kelowna s greatest economic strengths. Agriculture, Tourism, Manufacturing, Health, and Technology are important industries in the region. Kelowna General Hospital is the largest healthcare facility in the Interior of BC. As an active and vibrant recreation centre, Kelowna plays host to many visitors from all over the world. Kelowna International Airport, Canada s 10th busiest, easily connects visitors to major North American cities including direct flights to Vancouver, Calgary, Edmonton, Fort McMurray, Prince George, Seattle, Los Angeles, San Francisco, and Tofino. Visitors can enjoy renown wineries, golf courses and ski resorts. In short Kelowna is a four-season lakeside playground. 7
DEMOGRAPHICS ESTIMATES 1 KM 3 KM 5 KM Total Population (2016) 7,307 33,178 62,665 Projected Population (2021) 7,689 34,709 66,296 Total Households (2016) 3,992 16,511 29,699 Projected Households (2021) 4,187 17,287 31,449 Average Household Income (2016) $64,657 $77,278 $85,952 Projected Household Income (2021) $78,390 $92,980 $103,597 8
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THE SMALL PRINT This document/email has been prepared by HM Commercial Group for advertising and general information only and makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. All images and renderings in this document are conceptually based and subject to change without notice. Any interested party should undertake their own inquiries as to the accuracy of the information. HM Commercial Group excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of HM Commercial Group and /or its licensor(s). HM Commercial Group is a team of Real Estate Professionals licensed with MacDonald Realty Kelowna. 17
HM Commercial Group is a boutique commercial real estate team that specializes in investment properties, land for development, and leasing. Our targeted focus provides us with detailed knowledge of market conditions, as well as key relationships with wealthy investors, institutions, and REIT s. Over the past few years we have sold over a Quarter of a Billion dollars in transactions. WE DO THINGS DIFFERENTLY AND IT WORKS. CONTACT US: JEFF HUDSON */ MARSHALL MCANERNEY* HM Commercial Group Macdonald Realty Kelowna Phone: (250) 712-3130 Email: info@hmcommercial.com *Personal Real Estate Corporation Macdonald Realty Kelowna