WESLEY SQUARE

2-1551 Estevan Road, Nanaimo, BC, V9S 3Y3 Tel +1 250 753 5757

naivanisle.ca

FOR SALE Wesley Square

Commercial Complex

Nanaimo, BC

THE OPPORTUNITY

Wesley Square is a commercial and office complex which defines Wesley Street in the Old City Quarter of

Nanaimo. The complex provides much of the retail and office space located along this one-block commercial

street.

The design of Wesley Square with its plaza entrance and multi-facet retail street-front suites, expands the

pedestrian nature of the entire area. The design of Wesley Square increases both the profile of the building and

access to the property. The plaza also provides an opportunity to expand amenities and services with outdoor

protected areas.

Wesley Square is a fully-commercial complex. Multiple accesses and two-storey loft units create a variety of lease areas with unique frontage and interiors. The design provides increased tenant opportunities while making this one of the most prominent buildings in the Old City Quarter.

The central location is within walking distance to downtown, the seawall, restaurants, shopping, the convention centre and seaplane connections to Vancouver and Richmond.

For More Information:

Randall Taylor Personal Real Estate Corporation

Vice President

250 714 4248

rtaylor@naicommercial.ca

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE

OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS.

NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN, NOR ARE ANY TO BE IMPLIED.

335 Wesley Street, Nanaimo, British Columbia

Building Design and Construction

Building area: 20,841 square feet

Building Overview: Wesley Square is a unique and attractive two-storey complex featuring a brick and plank façade. The design of the building

reveals several frontages which appear as distinct components of the complex.

The building wraps around three sides of the street-facing plaza. Tall windows provide views onto the plaza, over the Old City Quarter and out to

Nanaimo harbour. All units gain natural light through over-height windows with

upper floor suites also benefiting from over-height ceilings and lofts.

Second floor suites fronting onto Wesley Street offer balconies overlooking the

street and out to the harbour.

Lease areas are accessed through multiple entrances from the patio-stone courtyard, four separate stairways from the street or via an elevator. The area of the suites is nearly equally split between ground floor commercial/ retail units and second floor office units.

Security gates and doors lock second floor and elevator access after-hours.

The complex provides twenty-seven stalls of under-building parking. Parking

provides additional revenue for the Landlord.

Telephone, cable and fiber-optic communications are available to all suites

within the complex.

The building was constructed in 1998. This is a well maintained and cared-for property with no deferred maintenance.

Land Area: 19,160 square feet.

FOR SALE Wesley Square

Commercial Complex

Nanaimo, BC

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS,

PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS. NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZ-

ARDS CONTAINED THEREIN, NOR ARE ANY TO BE IMPLIED.

Financial Summary:

Wesley Square is fully-tenanted with fourteen individual businesses and services as tenants. These range from local retail and service providers

to regional and national companies, professional services, and law offices. The complex is also the location of Wesley Square Professional

Centre; a business-services centre operated by the owner of the property.

All leases are “net” whereby the tenants pay their proportionate share of operating expenses. The building is fully-metered providing separate

electrical service and billing for each tenant.

Lease rates are equal to or above rent rates for the downtown and Old City Quarter areas.

Nine of the fourteen tenants have longer than 2 years remaining on the current term of the lease.

There is opportunity for increased rents as the vacancy rate is declining in the downtown core and Old City Quarter, in up-dated properties.

The purchase includes the assets of Wesley Square Professional Centre, located in the complex. This service company supports other tenants

within the building and provides rent.

Current net-rent produces a return of 5 percent (5%) on the sale price, as shown.

Financial information and environmental reports are available with an accepted offer.

Zoning:

Downtown (DT 2) zoning allows for; commercial school, cultural facility, daycare, financial institution, live/ work premises, office, personal care facility, personal service use, restaurant, retail and other uses.

See City of Nanaimo zoning bylaws for complete information.

FOR SALE Wesley Square

Commercial Complex

Nanaimo, BC

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS,

PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS. NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZ-

ARDS CONTAINED THEREIN, NOR ARE ANY TO BE IMPLIED.

FOR SALE Wesley Square

Commercial Complex

Nanaimo, BC

Site

Plan

Location within the City

The property is located on Wesley Street near the corner of Fitzwilliam, set mid-block of

the “Old City Quarter”. The area encourages walking to nearby cafes, restaurants, shop-

ping, professional services, the downtown core, convention centre, and waterfront area.

The location provides excellent transportation via transit, vehicle access with street-front

parking, and seaplane connection to Vancouver and Richmond.

Building

Elevations

Wesley Square is offered for Sale at

$ 5,475,000.00

(Five Million, Four Hundred and

Seventy-Five Thousand Dollars)

About Nanaimo

Nanaimo is located on the east coast of Vancouver Island, 113 km north of Victoria,

and 55 km across the Strait of Georgia from Vancouver.

BC Ferry terminals in Departure Bay and Duke Point link Nanaimo to Metro Vancouver.

Regular airline service to Vancouver and Calgary is available, and float planes provide

direct service to Vancouver and Richmond several times each day.

The City of Nanaimo is a classic West Coast community offering natural beauty at

every turn and vast recreation potential, attracting a steady stream of new residents.

NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER

CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS.. NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE

PROPERTY OR ANY HAZARDS CONTAINED THEREIN, NOR ARE ANY TO BE IMPLIED.

For More Information:

Randall Taylor Personal Real Estate Corporation

Vice President

250 714 4248

rtaylor@naicommercial.ca 2-1551 Estevan Road, Nanaimo, BC, V9S 3Y3

Tel +1 250 753 5757 naivanisle.ca