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625 FIFTH AVE & 513 SEVENTH AVE

$ 18,900,000
New Westminster, Canada
for sale
34696 ft2
for sale

Overview

THE OPPORTUNITY

William Wright Commercial is pleased to offer 100% interest in a rare value add and development opportunity in the booming New Westminster market. A full city block, this +/- 34,696 SQFT site improved with a +/- 51,122 SQFT building, the New Westminster Professional Building, plus 56 surface parking stalls offers a great revenue income property plus the prospect of a future mixed use development of over +/- 104,000 of buildable SQFT. The sale also includes the rights to +/- 76 underground parking stalls revenue and expenses located in the neighbouring tower.

PROPOSED DEVELOPMENT

The proposed project at 5.2 FSA and +/- 104,000 SQFT of buildable fits the Uptown New Westminster OCP designated for Multi Family Residential – High Rise. This development brings commercial/retail space to Belmont Street and ground-oriented residential to Seventh Avenue, with a comprehensive mix of family homes above.

PriceBasic RentGross Rent: $ 18,900,000
Size: 34696 ft2

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