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FOR SALE
Suffolk Place Tridecca Developments: New Construction Opportunity
Best In Class Opportunity!
29 Luxury Residential Rental Units in Port Coquitlam,
British Columbia
Suffolk Place is Port Coquitlam's newest rental building. The
offering presents a rare opportunity for a prospective purchaser
to acquire a 29-unit, four-storey, wood-frame, new purpose built
rental apartment building offering a desirable mix of one and two
bedroom luxury units. With open floor plans, large windows,
extensive outdoor living spaces, and condo-quality finishes; this
turn-key opportunity is a must-see for investors.
For more information, please contact:
James Blair* (Deal Lead)
Senior Sales Associate
+1 604 790 7089
Ray Townsend*
Executive Vice President
+1 604 671 3340
Ryan Cunningham
Associate, Unlicensed
+1 778 875 4803
*Personal Real Estate Corporation
Multifamily BC | JLL Canada (“JLL”) has been retained by the Vendor on an exclusive basis to arrange the sale of 1972 Suffolk
Avenue, known as Suffolk Place.
List Price: $8,500,000
Suffolk Place
Suffolk Place Property Overview
Municipal Address 1972 Suffolk Avenue, Port Coquitlam, V3B 1H2
Property Identifier 001-613-651 / 004-703-260
Legal DescriptionLOT A DISTRICT LOT 464 GROUP 1 NEW WESTMINSTER DISTRICT PLAN
EPP39793
Zoning RA1 (Residential Apartment 1)
Anticipated
OccupancyAugust 2016
Site Size 16,124 Sq.Ft
Gross Building Size Approximately 24,000 Sq.Ft
Net Rentable Space 20,224 Sq.Ft
Type of Building Wood-Frame Over Concrete Parkade
Number of Units 29
Suite Mix
One Bedroom, One Bathroom: 3 Units (605-642 Sq.Ft)
One Bedroom, One Bathroom + Flex: 16 Units (580-654 Sq.Ft)
One Bedroom, One Bathroom + Den: 3 Units (655-661 Sq.Ft)
Two Bedroom, Two Bathroom + Flex: 6 Units (819-1020 Sq.Ft)
Two Bedroom, Two Bathroom + Den: 1 Unit (917 Sq.Ft)
Balconies/Patios All Units
Parking 37 Underground Resident + 6 Visitor = 43 Total
Elevator Yes – Hydraulic
Meters Individual Hydro Meters For Each Unit
The Offering
2
COQUITLAM
CENTRE
SHAUGHNESSY STATION
Safeway, Banks, Restaurants
West Coast Express Station
COSTCO, WALMART,
HOME DEPOT - 5 min
Drive
THE PROPERTY
Suffolk Place
3
Suffolk Place
Suffolk Place is located in Port Coquitlam,
between Lougheed Highway and Coquitlam
Avenue. With easy access to the Vancouver
Downtown core and countless community
amenities, Port Coquitlam can offer a
convenient suburban lifestyle close to the city
and its most populated suburbs.
THE NEIGHBOURHOOD
Suffolk Place is Port Coquitlam’s newest
purpose built rental apartment building located
27 km East of Vancouver. Bordered by the
Coquitlam, Fraser River, and Pitt Rivers; Port
Coquitlam is Canada’s 88th most populated city.
Located just North of the Lougheed Highway,
Suffolk Place is just minutes from all types of
public transportation, including the Westcoast
Express, which allows quick access to the
Downtown Vancouver core.
The 25 km Traboulay Trail which encircles the
city is just steps away and is known for it’s
scenic views. The trail offers a variety of
traverses and landscapes which include forest,
creeks, meadow and marsh land, riverfront, and
urban development, making it a hot spot for
runners, walkers, and cyclists.
Shopping & Entertainment
Suffolk Place is conveniently located close to everything that a
resident could possibly need. The Property is just minutes away from
the Shaughnessy Station Shopping Centre, which houses a variety of
stores, amenities, and restaurants and is a mere 5 minutes to a newly
built Costco, Walmart, Save-On Foods, and Home Depot.
Sports & Recreation
Port Coquitlam is a sports and recreation hub filled with outdoor parks
and trails, golf courses, baseball diamonds, and multiple Recreation
Complexes which include weight and fitness facilities, hockey rinks,
swimming pools, tennis courts, squash and racquetball courts, and
Youth Centre's.
Transportation
Port Coquitlam is served by various public transportation routes
including the Westcoast Express, Translink, and Handydart providing
convenient, comfortable, and efficient services for people of all ages
and abilities.
Health & Safety
The Eagle Ridge Hospital is located less than 10 minutes away and
offers primary and emergency services. This is complemented by a
plethora of medical and dental services offered directly in the Port
Coquitlam community. Port Coquitlam is policed by both the
Community Police Stations and the RCMP, who work together to keep
the community nuisance-free and to keep residents safe.
Location Characteristics
AREA AMENITIES
Investment Highlights
• New construction
• Built Green to LEED’s gold standard – significantly lowering
operating costs
• Home warranty inspections were maintained throughout the
construction process, ensuring construction has been done
to the New Home Warranty specifications and standards
• Low-maintenance, high-quality, cementitious fiber board
siding
• Excellent curb appeal including brick and stone detailing
• Asphalt roofing with lifetime warranty
• Low maintenance landscaping and patio areas
• Large suite sizes with open floor plans
• Condo quality finishing's with quartz counter surfaces
• Luxury vinyl plank flooring and ceramic tile; carpet in the
bedrooms
• Electric base board heat – tenant paid
• 6 appliances including in-suite washer, dryer and a full
stainless steel kitchen package including bottom mount
fridge, dishwasher, stove, and over-the-range microwave
• 90% of units have a flex-room or den
• Individual electric hot water tanks in each unit
• Large vinyl double glazed windows throughout, offering
ample natural light
• Balcony or patio for each unit – most with very large
outdoor spaces
• Secure underground parking with additional visitor stalls
• Secure fob entry to lobby and underground parking
• Outdoor amenity area and indoor meeting room
• Bike and storage locker rooms
• Telus and Shaw wiring throughout
• All suites are security alarm ready
• Insulation with higher than normal “R” values
• Building is solar ready
• LED lighting throughout
• Lights with motion sensors
• ‘Kill’ switches for non-essential electrical outlets
• Finishes with lower toxic components than industry
standard (reduces off-gassing)
• Great access to Lougheed Highway arterial route
• Within minutes of differing public transportation – including
the West Coast Express Station
• Rapidly increasing population and low vacancy rates within
the area
Expected Occupancy for Suffolk Place – August 2016
*Dates are subject to change. Construction timelines and milestones to be provided to interested parties.
4
5
DISCLAIMER Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents
make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind.
The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this
information is subject to the terms of that agreement. ©2016. Jones Lang LaSalle. All rights reserved. *Broker **Sales Representative
Projected Proforma Rent Roll Suffolk Place
Type Units Avg. Size (Sq.Ft)
Projected Avg.
Monthly Rent
Projected Avg.
Rent Per Sq.Ft
1 Bedroom 3 617 $1,308 $2.12
1 Bedroom + Flex 16 635 $1,336 $2.10
1 Bedroom + Den 3 659 $1,325 $2.01
2 Bedroom + Flex 6 885 $1,742 $1.97
2 Bedroom + Den 1 917 $1,800 $1.96
29 697 $1,432 $2.06
Unit
Number Suite Type Size (Sq.Ft)
Projected Monthly
Rent
Projected Monthly
Rent/Sq.Ft
Projected Yearly
Rent
101 1 Bedroom + Flex 654 $1,325 $2.03 $15,900
102 1 Bedroom + Flex 661 $1,300 $1.97 $15,600
103 2 Bedroom + Flex 819 $1,600 $1.95 $19,200
104 1 Bedroom + Flex 623 $1,275 $2.05 $15,300
105 1 Bedroom + Flex 647 $1,325 $2.05 $15,900
106 1 Bedroom + Flex 642 $1,250 $1.95 $15,000
107 1 Bedroom + Flex 654 $1,325 $2.03 $15,900
201 1 Bedroom + Flex 654 $1,325 $2.03 $15,900
202 1 Bedroom + Den 661 $1,300 $1.97 $15,600
203 2 Bedroom + Flex 819 $1,600 $1.95 $19,200
204 1 Bedroom + Flex 623 $1,275 $2.05 $15,300
205 1 Bedroom + Flex 647 $1,325 $2.05 $15,900
206 1 Bedroom 605 $1,250 $2.07 $15,000
207 1 Bedroom + Flex 642 $1,325 $2.06 $15,900
208 2 Bedroom + Flex 917 $1,750 $1.91 $21,000
301 1 Bedroom + Flex 654 $1,375 $2.10 $16,500
302 1 Bedroom + Den 661 $1,350 $2.04 $16,200
303 2 Bedroom + Flex 819 $1,650 $2.01 $19,800
304 1 Bedroom + Flex 623 $1,325 $2.13 $15,900
305 1 Bedroom + Flex 647 $1,375 $2.13 $16,500
306 1 Bedroom 605 $1,300 $2.15 $15,600
307 1 Bedroom 642 $1,375 $2.14 $16,500
308 2 Bedroom + Den 917 $1,800 $1.96 $21,600
401 1 Bedroom + Den 655 $1,325 $2.02 $15,900
402 2 Bedroom + Flex 918 $1,900 $2.07 $22,800
403 1 Bedroom + Flex 635 $1,400 $2.20 $16,800
404 1 Bedroom + Flex 580 $1,425 $2.46 $17,100
405 2 Bedroom + Flex 1,020 $1,950 $1.91 $23,400
406 1 Bedroom + Flex 580 $1,425 $2.46 $17,100
TOTAL 29 UNITS 20,224 $41,525 $2.06 $498,300
6
DISCLAIMER Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents
make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind.
The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this
information is subject to the terms of that agreement. ©2016. Jones Lang LaSalle. All rights reserved. *Broker **Sales Representative
Projected Proforma Income & Expense StatementSuffolk Place
YEARLY YEARLY/UNIT % OF EGI
REVENUE
$498,300 $17,183
Included
$498,300 $17,183
Less: Vacancy [2] 0.40% $1,993 $69
$496,307 $17,114
$132 $5 0.03%
$39,000 $1,345 7.86%
$19,500 $672 3.93%
$6,600 $228 1.33%
$3,504 $121 0.71%
$5,280 $182 1.06%
$2,700 $93 0.54%
$200 $7 0.04%
$17,400 $600 3.51%
$24,815 $856 5.00%
$14,500 $500 2.92%
$133,631 $4,608 26.93%
$362,676
EXPENSES[3]
Elevator
Licence
Caretaker
Management
TOTAL NET INCOME
Rental Income[1]
Parking
Gross Income
EFFECTIVE GROSS INCOME
Bank Charges
Property Taxes
Insurance
Electricity
Waste Removal
Water/Sewer
Repair & Maintenance
TOTAL EXPENSES
[3] All expenses are projected, stabilized, and based on market research and consultation with a local property management company
[2] October 2015 CMHC average vacancy rate
[1] Projected rents at $2.06 per Sq.Ft annualized
List Price Cap Rate Price Per Unit
$8,500,000 4.27% $293,103
*Construction progress photographs will be uploaded to the JLL Dropbox website bi-weekly.
7
Construction ImagesAs of June 1st, 2016
DISCLAIMER Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents
make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind.
The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this
information is subject to the terms of that agreement. ©2016. Jones Lang LaSalle. All rights reserved. *Broker **Sales Representative
8
1 Bedroom + Flex - 3-D Rendering
DISCLAIMER Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents
make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind.
The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this
information is subject to the terms of that agreement. ©2016. Jones Lang LaSalle. All rights reserved. *Broker **Sales Representative
629 Sq.Ft
9
2 Bedroom + Flex - 3-D Rendering
DISCLAIMER Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents
make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind.
The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this
information is subject to the terms of that agreement. ©2016. Jones Lang LaSalle. All rights reserved. *Broker **Sales Representative
820 Sq.Ft
Tridecca Developments
Offering ProcedureSuffolk Place is being exclusively offered by the JLL Multifamily BC Team. JLL will be available to assist investors with their analysis of
this opportunity.
Prospective Purchasers are requested to submit offers to:
JLL Real Estate Services Inc.
355 Burrard Street, 14th Floor
Vancouver, BC, V6C 2G6
Tel +1 778 998 6001
Attn: James Blair ([email protected]) and/or
Ray Townsend ([email protected])
A Dropbox website has been set up for this transaction. Prospective Purchasers are encouraged to access the due diligence website.
Access to the website is provided upon execution of a Confidentiality Agreement (CA).
Founded in 1989 by a team of brothers, Tridecca has over 20 years experience developing a wide variety of construction projects from
Horseshoe Bay to Chilliwack. They pride themselves on experience in every aspect of the construction business, developing commercial
retail spaces, places of worship, high-end residential homes, multi-family residential homes, and concrete high-rise structures in Greater
Vancouver. Tridecca is committed to the development of livable, affordable, and stylish living spaces in Western Canada. All of their
residential, commercial, and mixed-use spaces are precision-built to an exceptionally high standard of quality.
Notable Projects include:
258 Sixth Street – a 75-unit, 16-storey, mixed-use concrete high-rise located in New Westminster that was completed in 2013
Greystone Condos – a 26-unit, wood-frame condo project located in Port Coquitlam that was completed in 2008
UBC Geography Building – a complete exterior restoration that was completed in 2014
10
Suf
folk
Pla
ce
JLL Canada
355 Burrard Street, 14th Floor
Vancouver, BC, V6C 2G6
Tel +1 604 998 6001
www.jll.ca
James Blair* (Deal Lead)
Senior Sales Associate
+1 604 790 7089
*Personal Real Estate Corporation
Ray Townsend*
Executive Vice President
+1 604 671 3340
Ryan Cunningham
Associate, Unlicensed
+1 778 875 4803
Multifamily BC | JLL Canada