Redevelopment Opportunity for SaleUnique Old Montréal Commercial or Residential Redevelopment Opportunity
423 Saint-Nicolas Street, Montréal
For more information, please contact
Mark SinnettExecutive Vice President - Capital MarketsReal Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
Armen MarkarianAssociate - Capital MarketsCommercial Real Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
© Gouvernement du Québec, 2001
Impression - Carte du lot: 1 180 880
62 X 33 m 0 10 m
Page 1 of 1Impression Infolot
2012-10-01http://infolot.mrnf.gouv.qc.ca/ddci/script/i223impr.asp
Page 2
Property Specifications
Total Building Area18,972 SF (1,762.6 m2)
Total Land Area4,749 SF (441.2 m2)
Frontage88’ (26.82 m)
Legal DescriptionLot # 1 180 880 (Cadastre du Québec)
Storeys4
Year Built1880 (1933)
ZoningType: M.3CMaximum Height: 248’ (23 m)Maximum Coverage: 100% of the lot area.Maximum Density: 6 times the lot area.Heritage Status: AH-1
Municipal EvaluationLand: $ 838,300.00Building: $ 824,200.00TOTAL: $1,662,500.00
Tax RollMunicipal Taxes: $ 51,727.69School Tax: $ 2,721.18TOTAL: $ 54,448.87
VendorLovell Litho & Publications Inc.
FinancingFree and clear
Asking Price$3,750,000
Four-storey, 18,972-square-foot commercial building in the heart of Old Montréal, zoned mixed use
423 Saint-Nicolas Street, Montréal
Page 3 423 Saint-Nicolas Street, Montréal
Certificate of Location
Page 4
The property is located on Saint-Nicolas Street on the corner of Le Moyne Street in the heart of Old-Montréal in the Ville-Marie borough.
The property benefits from an excellent location in Old-Montréal, a few minutes away from art galleries, museums, restaurants, hotels as well as the Old Port boardwalk. Old-Montréal connects easily to downtown Montréal, to the Central Business District, the International Quarter and the Multimedia City via Saint-Laurent Boulevard and Highway 720. Only a few minutes away, we find such landmarks as the Palais des Congrès, the
Palais de Justice, Montréal’s Science Museum, Pointe-à-Callières Museum and Marché Bonsécours, and Notre-Dame Basilica. Neighbouring tenants include Nelligan Hôtel, Le Petit Café, Galerie Saint-Dizier, Olive et Gourmando and a wide range of upscale restaurants, intimate little hotels, trendy art galleries and small museums catering to both tourists and locals.
The property is also well-serviced by public transit: it is only minutes away from the Place d’Armes and bus 715 runs frequently on de la Commune Street West.
Great location near a high density of services, amenities and activities
Property Location
423 Saint-Nicolas Street
423 Saint-Nicolas Street, Montréal
Page 5 423 Saint-Nicolas Street, Montréal
Property Location (cont’d.)
Page 6
In one of the fastest growing boroughs of Montréal
Property Location (cont’d.)
Demographic Snapshot
Downtown Montréal is both the heart of the city and an important economic center for the province. Much of the province economic activity is located between Atwater and Bleury Streets and de la Gauchetière and Sherbrooke Streets. While the city’s center used to lie in the Old Port of Montréal, the development of landmark skyscrapers from the 1930s through to the 1960s shifted Montréal’s economic activity to the Sun Life Building, Place Ville Marie, 1000 de la Gauchetière and the Bell Building. Large infrastructure projects such as the Bonaventure and Ville Marie autoroutes further concretize this move. In spite of this, Old Montréal, delimited by the Bonaventure Autoroute and the Molson Brewery complex in the west and east, and by Saint-Antoine and de la Commune Streets in the north and south, remains an important cultural and economic center.
The Ville-Marie borough has seen growing population trends, which is the result of new infrastructure and the densification of the downtown core. According to Statistics Canada, the population in the Ville-Marie borough was 90,748 in 2013, representing a 4.1% increase since 2008 and a further 15%
Real Estate Trends – residential
Old Montréal, which sits in the Ville-Marie borough, is currently undergoing a real estate revitalization all while preserving the city’s historical buildings. The average prices of single-family homes in the Ville-Marie borough are $650,000, condominiums ave sold for $323,000 and plexes with two to five units have sold for $410,000 in the past year. These figures are much higher than those of the whole Island of Montreal where single-family homes have recently sold for $379,000, plexes for $444,500 and condominiums have sold for $268,000. The ratio between those owning the home they reside in and those renting is split close to half of each. However, there are slightly more owners than renters in Old Montréal. Old Montréal has also announced the construction of several new condominium buildings such as Héritage Vieux-Port, Bank and the 8 phase Solano project. These projects offer condo units that range from 500 to 2,400 square feet and range from $216,000 to $1,150,000.
increase is expected for the next five years. The median age is 36. It is interesting to note that 43% of the Ville-Marie population have post-secondary education degrees, which is significantly higher than for the rest of Montréal, where the rate lies at 24%. On average, the household income in Ville-Marie is $69,123. Some of the most important companies in this area are Sun Life Financial, the Laurentian Bank, BDC, Intact Assurance, Manulife Assurance, McGill University and VIA Rail Canada Inc.
Real Estate Trends – commercial
The area is expected to change significantly in the next few years and massive infrastructural investments are made. The Harbourfront Tramway, for instance, will connect the Central Business District and Old Montréal, and complement Montréal’s metro and pedestrian networks. Another important initiative will redevelop the Montréal Harbourfront by expanding recreational, tourist and cultural attractions, repurposing vacant land and improving the efficiency of transportation networks. Finally, the Quartier Bonaventure project, one of the largest underway, will see the transformation of the Bonaventure Autoroute into a boulevard and tramway line.
Page 6 423 Saint-Nicolas Street, Montréal
12.7%15.4%13.2%10.8%8.8%6.9%5.3%4.4%3.5%2.8%4.6%3.2%2.3%1.4%1.5%3.3%
Under $10,000$ 10,000 - $19,999$ 20,000 - $29,999$ 30,000 - $39,999$ 40,000 - $49,999$ 50,000 - $59,999$ 60,000 - $69,999$ 70,000 - $79,999$ 80,000 - $89,999$ 90,000 - $99,999
$ 100,000 - $ 124,999$ 125,000 - $ 149,999$ 150,000 - $ 174,999$ 175,000 - $ 199,999$ 200,000 - $ 249,999
$ 250,000 and over
0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0%
12%
21%
4%3%
5%
9%
3%
2%
5%
1% 2%
2%2%
Food
Shelter
Household operation
Household furnishings and equipment
Clothing
Transportation
Health care
Personal care
Recreation
Reading materials
Education
Tobacco products and alcoholic beverages
Miscellaneous expenditures
12%
21%
4%3%
5%
9%
3%
2%
5%
1% 2%
2%2%
Food
Shelter
Household operation
Household furnishings and equipment
Clothing
Transportation
Health care
Personal care
Recreation
Reading materials
Education
Tobacco products and alcoholic beverages
Miscellaneous expenditures
About the Capital Markets - Commercial and Retail Properties GroupJLL’s Commercial and Retail Properties Group specializes in the acquisition and disposition of commercial, semi-commercial and retail properties both in the Greater Montréal Area and throughout the province. The group offers:• Acquisition and disposition services;• Leasing and landlord representation services;• Asset review and financial analysis; and• Investment strategy development and due diligence support.Our main objective is to ensure that our clients receive maximum value for their real estate investments. Our approach, tools and processes have all been optimized to meet this goal, allowing us to successfully transact the majority of our assignments. In addition to our 20 years of cumulative experience, we offer industry-leading research, market intelligence, and unmatched exposure to investors, retailers, users, and developers across the country.
About JLLJLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.
Jones Lang LaSalle Real Estate Services Inc.Real Estate Agency1 Place Ville Marie, Suite 2121Montréal, Québec, H3B 2C6Tel. +1 514 849 8849www.jll.ca
© 2014 Jones Lang LaSalle, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.Jones Lang LaSalle Real Estate Services, Inc., Real Estate Agency
For more information, please contact
Mark SinnettExecutive Vice President - Capital MarketsReal Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
Armen MarkarianAssociate - Capital MarketsCommercial Real Estate BrokerJones Lang LaSalleT. +1 514 667 [email protected]
