234 – 238 Abbott St. is located in the heart of Gastown on Abbott Street steps away from vibrant Water Street. Gastown is an internationally renowned heritage zone, adjacent to Vancouver’s financial core, and is in very close proximity to the SeaBus terminal, Waterfront Skytrain Station, the West Coast Express, and several public parkades. Gastown, characterized by cobblestone streets, brick and timber heritage buildings and historical charm, is home to many boutiques, international retailers and award-winning restaurants with multiple emerging design firms and Vancouver’s top high tech and visual effects companies. Several acclaimed restaurants including L’Abattoir, Tacofino, and Di Beppe as well as a thriving retail market including COS by H&M, Roden Gray, Herschel Supply Co., Oak + Fort and Inform Interiors, have established Gastown as one of the most stylish neighborhoods in the world.
The subject asset is strategically located amongst several extremely successful mixed use developments, including the Terminus/Garage/Alhambra Projects by Salient Developments and the renowned Woodwards Development by Westbank, among others. The immediate area is further seeing development intensification with the brand new 114,000 SF mixed use rental project at 33 W Cordova Street by Westbank and the 82,000 SF office and retail project by Low Tide Properties, both steps away from the current asset.
• Extraordinary investment/owner occupier opportunity in the heart of Gastown
• Character restaurant and office asset with two storeys, both with mezzanines
• Main level features a fully fixtured, 1,800 SF (approx.) restaurant premise
• Second level features a renovated, 1,800 SF (approx.) character office premise, with a private washroom and shower
• Exposed brick and beam throughout
• Excellent carefree net investment with exceptional rental upside, with Gastown experiencing substantial year over year rental growth
• Potential opportunity for an owner occupier with strong in-place rental income