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Surrey 0.90-acre development site sells over ask at $12.3 million

Fleetwood-area strata-windup industrial property is in the new Surrey-Langley SkyTrain corridor and has OCP rezoning potential for a higher-density mixed-use development.
16055 Fraser Highway8.30.40 AM
Fraser Elliott Group, Delta, B.C., for Western Investor

Property type: Industrial land

Location: 16055 Fraser Highway, Surrey, B.C.

Number of units: 16

Size of property: 18,200 square feet

Size of land: 39,472 square feet (approx.)

Land size in acres: 0.90 acres

Current zoning: CD/ 0.6 FAR (floor-area-ratio)

OCP proposed density: 2.5 FAR (6-storey)

Rezoning applied for: Three high-rise multi-family towers of 40 to 57 floors; and 87,000 square feet of commercial space.

List price: $12 million

Sale price: $12.33 million

Date of sale: July 23, 2021

Brokerage: Fraser Elliott Group, Delta, B.C.

Broker: Fraser Elliott