Is a slowdown finally on the horizon? A review of sales prices (as indicated by the Greater Vancouver Real Estate Board’s Housing Price Index) shows that benchmark pricing for single-family homes have increased steadily over the past two years.

According to the GVREB, May 2012 sales were at a 10-year low, which certainly does not bode well for prices moving forward. Sales volumes were down for all property types as follows:

Legion up for redevelopment.

The building that houses Legion Branch No. 148 is up for redevelopment, and if it goes through, could still have room for the Heights Legion.

It was the only option for the beleaguered Legion, according to president Dave Taylor, which has suffered financially due to changes to B.C.’s smoking and drinking laws, and increasing property taxes.

Morgan Dyer and Simon Lim of Colliers has listed for sale 1445 West Georgia Street, a 6-storey, 39,620 SF office building in Coal Harbour.  The property is 10,800 sq ft in size and is situated mid-block on West Georgia Street between Nicola and Broughton Streets.  This represents an excellent redevelopment opportunity with potential to develop with residential to a density of 6.0 FSR (or higher with rezoning).

Brochure

Colliers International is pleased to announce the sale of 198 West Hastings Street to a local private investor. Colliers represented the purchaser in this transaction which was a City of Vancouver administered tender process.

*Sold by Kelly Heed, Steve Fame & Casey Weeks

Peninsula Crossing, a 6,455 SF strip retail centre located at 24th Avenue and 152nd Street in South Surrey has been sold by David Taylor and Simon Lim of Colliers. The purchase price was $3,450,000, representing $534 per sq ft, and approx. 5.0% cap rate. The purchaser was a local investor. The property was fully leased to national and local tenants, including 7-Eleven.

Contact us for more information regarding opportunities in this area.