1500 Pendrell Street

Full City Block Development Opportunity

 

THE OFFERING

On behalf of the owners of the strata corporation LMS 1491, CBRE Limited is pleased to present the opportunity to acquire 1500 Pendrell Street, Vancouver (Pendrell Mews). Pendrell Mews is comprised of an entire city block totaling 43,237 sq. ft. in the highly desirable West End of Vancouver. The property is ideally located 350 meters (4-minute walk) from English Bay Beach and the site is located in an area that is currently transitioning into one of the most desirable neighborhoods located on the downtown peninsula.
 

THE OPPORTUNITY

The property is currently zoned RM-5A which permits a maximum 2.20 FSR. CBRE strongly encourages that if applicable, bid submissions include architectural massing plans for a potential project that increases the density to a higher, but viable level. As Pendrell Mews is not currently included in the Lower Davie Development Corridor of the West End Community Plan, consideration will be given to the likelihood that the proposed development concept will be viewed favorably by the City of Vancouver. Bid submissions should also include the amount of time required for the purchaser's due diligence and an outline of deposit structure proposed.
 

THE PROCESS

Pendrell Mews is being offered through an unpriced bid process where interested parties are invited to submit an offer by a bid date set by the agent. Offers should address the following key terms:
 
  • Purchase Price
  • Timelines (Conditional Period & Closing Terms)
  • Proposed Architectural Massing Plans (Including both Social & Market Housing Components)
  • Structure of Non-Refundable Deposits
  • Transitional Options (Leaseback and/or Buyback Options)