Prominently positioned high visibility future development site or holding property at 1919 Sooke Rd in Colwood neighbouring the newly constructed mixed use Colwood Corners. offering retail, commercial and multi-family high density residential. The subject property is comprised of an older rancher on a 23,458.27 sqft lot with triple road frontage, city services, zoned R1 single family residential however the OCP (Official Community Plan) is designated Colwood Corners permitting mixed use development with a maximum FAR of 4.5 and this location is designated Transit Corridor. Colwood will not accept small scale development on this site. They wish to see 8+ to 30 stories on this location. The upper units above the 4th floor should offer ocean and city views. The municipality is focusing the highest density along the Sooke Road, Goldstream and Wale Road corridor in Colwood. The property offers approximately 195.83 feet frontage along Colwood Crescent and 99.76 feet frontage along Sooke Road and Jerome. Buyers must do their own due diligence with the municipality in regards to future development. There are 13 properties including this one tied to the restrictive covenant preventing development. 10 of the 13 property owners have signed off on the covenant registered on title. The seller will consider carrying substantial financing for a buyer with a reasonable down payment over 2 to 5 years depending on the terms.
Address
Lot1 Sooke Rd
List Price
$2,100,000
Property Type
Commercial Sale
Type of Dwelling
Mixed Use
Area
Colwood
Sub-Area
Co Colwood Corners
Lot Size
23458.27 Sq. Ft.
Lot Size (Acres)
0.54 Ac.
Year Built
1952
MLS® Number
977096
Listing Brokerage
Royal LePage Nanaimo Realty (NanIsHwyN)
Postal Code
V9B 1W1
Tax Amount
$3,364.00
Tax Year
2022
Features
Forced Air, Mixed, Oil
Amenities
Acreage, Balcony/Patio, Central Location, Cleared, Corner Lot, Curb & Gutter, Easy Access, Family-Oriented Neighbourhood, Fencing: Partial, Level, Low Maintenance Yard, Marina Nearby, Near Golf Course, Private, Recreation Nearby, Rectangular Lot, See Remarks, Serviced, Shopping Nearby, Sidewalk, Sign: Allowed, Southern Exposure, Storefront