AddressFraser Tolmie Apartments
1701 Cedar Hill Cross Road
Victoria - Saanich, BC
# of Units208
Lot Size6 Acres
PricePlease Contact Listing Agents
On behalf of QuadReal Property Group, Cushman & Wakefield is pleased to offer for sale a 100% freehold interest in 1701 Cedar Hill Cross Road, Saanich BC (the “Property”) commonly known as Fraser Tolmie Apartments – a prominent 208 suite rental apartment building located at the base of Mount Tolmie and just steps from the University of Victoria’s renowned campus.
Fraser Tolmie Apartments is an institutionally owned and asset managed purpose-built rental multifamily property which will deliver a thoughtful appointment of larger than average residential suites occupied by a diverse population of tenants; professionals, seniors, mature students and families provide a dynamic and proud sense of community within the Property. The two residential buildings are situated on nearly six acres of land in a highly desirable destination for residents at the base of Mount Tolmie with proximity to one of the most sought after and largest post secondary institutions in the province of B.C.
The Property consists of approximately 190,695 square feet of net rentable area improved upon 5.84 acres of site area. Notable Property differentiators include a stunning landscaped garden and court yard area, a cozy social gathering room with a full kitchen and fireplace, two different indoor pool / hot tub / sauna rooms, renovated staff office and kitchen area, and an expansive underground parkade which features a car wash for tenants. The residential units are ±200 square feet larger than most apartment buildings of this vintage where the majority are two bedrooms, and are represented by three different tiers of improvements; 29% basic, 68% mid-level and 3% premier which clearly demonstrates value-add and income growth opportunity.
• Two indoor pools /hot tub / sauna rooms
• Tenant gardening area
• Amenity/entertainment room
• Tenant parking and car wash in parkade
• Shared Laundry Room in both buildings
• Storage lockers on every floor
• Newly Renovated Management Office
• Staff Room
• Centrally located in a truly mixed-use neighbourhood in Greater Victoria with unparalleled accessibility.
• Proximity to the University of Victoria.
• Situated at the base of Mt. Tolmie which is a popular outdoor destination for local residents and tourists to hike and get world-class views of the entire region and pacific ocean.
• Easy access to several grocery anchored shopping centres as well as professional services and employment hubs, most notably UVIC, Shelbourne Plaza, Hillside Mall and The Royal Jubilee Hospital.
• Multiple access points along Cedar Hill Cross Road and Richmond Road along with easy access to Shelbourne Street and Douglas Street connecting Downtown and Swartz Bay Ferry Terminal.
• A unique location with urban and rural fusion; access to over 160 parks and greenspaces, trendy bistros, boutique retailers, and diversifi ed shopping centres while only being a 12-minute drive to downtown Victoria.
Please contact a member of the exclusive property advisors for guidance on the offering process. A Confidential Offering Memorandum ("COM") will be made available to prospective purchasers upon the receipt of a signed Confidentiality Agreement.
We are now scheduling Property tours. Please contact a member of the listing team to coordinate a private appointment.
Formal expressions of interest, including LOI & Offers will be received on Wednesday July 28th, 2021, for consideration.