Riverside Heights Shopping Centre
14815 108th Avenue, Surrey, BC
FOR SALE
Property details
- Year built 1961 (Renovated – 1998)
- Site size 6.90 acres (300,649 sf)
- Current zoning C-8 Community Commercial Zone
- Total leasable area 101,833 sf
- Parking stalls 360 (3.52 per 1,000 SF)
- Pricing guidance Contact Listing Agents
- Development Potential 751,410 buildable sf (assuming blended 2.50 FAR average - estimated)
Opportunity
Avison Young is pleased to present the opportunity to acquire a 101,833 sf grocery anchored neighbourhood shopping centre, fully leased to a mix of 18 national and regional tenants and situated on 6.90-acres of prime redevelopment land at a prime intersection in the City of Surrey.
Investment highlights
Strong redevelopment potential - Designated within the Guildford Neighbhourhood Concept Plan (NCP) allowing flexible options for residential concrete or wood-frame construction
Central location - Situated at a prime intersection in a densely populated, amenity-rich neighbourhood with convenient access to major transportation routes including Trans-Canada Highway directly from 108th Avenue, along with Guildford Town Centre, the future Surrey-Langley SkyTrain, and Surrey City Centre
Site attributes - Large rectangular shape with four road frontages, offering efficiency and economies of scale, and phenomenal views overlooking the North Shore mountains and the Fraser River
Increased income potential - Significant upside as current average rents are over 50% below market and there is potential to build additional pads
Multiple value add strategies - The Property offers 6.90 acres of land and allows for both a full or a phased re-development. The site bifurcates and allows the Purchaser to focus on re-developing the eastern portion of the site and repositioning the western portion of the centre
