A 2.87-acre development site in the Old City area of Nanaimo has sold for $3.3 million, Colliers International Nanaimo tells Western Investor.
The site has exceptional ocean views of the downtown Nanaimo harbour. The property fronts onto Machleary, Kennedy and Franklyn Streets. It is located in an area predominantly made up of single-family residential properties with a few medium density residential developments throughout. The site is currently zoned for Community Service One and likely requires rezoning to capitalize on best use.
The property is located 388 Machleary St., Nanaimo.
Breakdown:
Price: $3,300,000
Lot Size: 2.87 acres
Property Type: Land
Zoning: CS1
2016 B.C. Assessment Value: $5,842,000
Date of Sale: 12/15/2017
City: Nanaimo
Province: B.C.
Name of Brokerage: Colliers International Nanaimo
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