FOR SALE Anglers Anchorage Marina Located in Beautiful Brentwood Bay, BC Victoria, BC Opportunity: To acquire a well established marina on beautiful Vancouver Island with steady year round income. Location: Superbly located at 905 Grilse Lane (933 Marchant Road) in beautiful Brentwood Bay Village, within the municipality of Central Saanich, in Greater Victoria. Upland Lot Blues Bayou Description: Large marina with approximately 5,000 lineal feet of moorage, significant recent improvements to docks, electrical and sewage system in 2008. Excellent opportunity to steadily increase income. Griffin Lewis [email protected] Rick Pettinger Anglers Anchorage Marina [email protected] Amanda Crowder [email protected] DTZ Barnicke 888 View Street Victoria, BC, V8W 1K2 Tel. (250) 382-3400 Fax. (250) 382-1333 Globally Connected, Locally Focused FOR SALE Anglers Anchorage Marina Overview DTZ Barnicke is pleased to present this rare opportunity to acquire a large and wellestablished marina operation on the periphery of Victoria, BC. Anglers Anchorage Marina benefits from an ideal location within Brentwood Bay, just a short 20 minute drive to downtown Victoria. The Marina is located on the western shore of the Saanich Peninsula where it enjoys magnificent southwest ocean and mountain views across Finlayson Arm to Malahat Mountain. The subject is comprised of an upland parcel (currently used for parking) of 0.75 acres and a long term provincial aquatic land lease of about 5 acres. History The calm and protected shores of the Saanich Inlet and particularly Brentwood Bay have long been home to several marinas that line its shore. Anglers Anchorage Marina itself has a long history of use as an anchorage and more recently as a marina, having previously operated under the names of Anchorage Tea Garden and Anchorage Boathouse. Brentwood Bay Looking towards Brentwood Bay The subject property is ideally located in Brentwood Bay within the municipality of Central Saanich. This predominantly rural community is home to roughly 16,000 residents and is favorably positioned between the picturesque Haro Strait to the east and Saanich Inlet to the west, while just a short 20 minute drive to downtown Victoria, 15 minute drive to the Victoria International Airport, and a 5 minute drive to beautiful Butchart Gardens. Butchart Gardens is the region’s most powerful tourist attraction and the economic and aesthetic focal point of Central Saanich. Drawing close to one million visitors annually, it is ranked the 3rd busiest tourist destination in the Province and the most popular tourist attraction on Vancouver Island. Brentwood Bay Village offers excellent accommodation, waterfront restaurants and all amenities within its vibrant neighbourhood commercial centre. The Village is rapidly developing and has recently undergone some significant street beautification upgrades. The property itself benefits from stunning ocean views and its proximity to amenities. It is located within a largely residential neighbourhood consisting of both single family and multifamily dwellings. Brentwood Bay and the Inlet area are popular for boating, kayaking, fishing and diving. Saanich Peninsula, Vancouver Island www.dtzbarnicke.com/victoria Tel. (250) 382-3400 FOR SALE Anglers Anchorage Marina Mill Bay Ferry with Subject Property in Distance Butchart Gardens Brentwood Bay Beachfront Brentwood Bay Village Marina Services Building Site and Improvement Description The property offers a combination of marine commercial and restaurant uses with potential for steady income growth. The subject comprises an upland fee simple lot in addition to an aquatic land lease in Brentwood Bay. The upland parcel (Lot 1) is paved and serves as the parking lot for the marina. It can hold about 85 vehicles and is approximately 0.75 acres in size. Accessed off of Grilse Lane, the lot is irregularly shaped and slopes gently downward from north to south. The new Marina Services Building is located on the south side of the parking lot at the waters edge. The 30 year aquatic land lease from the Province of BC comprises 2 lots totaling approximately 5 acres with about 5,000 lineal feet of moorage within the boundaries. The original term of the lease is set to expire in 2022, though a new 30 year lease has been applied for and is expected to be granted in 2008. At present, a significant upgrade program is underway which will completely transform Anglers Anchorage Marina. Upon completion (scheduled October 2008), the subject property will benefit from substantially rebuilt docks with the majority of wharves and fingers having new cedar wood decking, as well as being re-secured with “screwed-in” pilings. Upgrades have also been undertaken to provide electrical service, municipal water, and sewage hook-up to each individual slip. In addition, an attractive new 1100 square foot Marina Services Building is under construction and will contain a managers office, lounge, laundry facilities, and 4 washrooms and showers. Finally, the plan anticipates significantly upgraded landscaping, walkway and parking facilities. www.dtzbarnicke.com/victoria Site Map Tel. (250) 382-3400 FOR SALE Anglers Anchorage Marina Site and Improvement Description Continued BICKFORD LANE MARCHANT ROAD ANGLER’S LANE LOT 13 Improvements constructed upon a portion of the leased lands are presently sub-leased by the very popular local restaurant “Blues Bayou.” The tenant is in the second year of a 5 year term which expires April 30, 2012, with an option to renew for a further 5 years. The restaurant consists of a small dining room (330sf), kitchen and washroom facilities (510sf), and a large patio (1025sf). Additional Land: The Sellers own a second fee simple parcel of land (Lot 13) located adjacent to the parking lot consisting of about 12,100 square feet. This parcel is currently vacant. Access to the marina remains off of Bickford Lane. Zoned R-1S (Small Lot Single Family), there are many development opportunities for this land. It can be purchased separate from the marina and parking lot for an additional $800,000. Aquatic Land Lease The current aquatic land lease commenced March 31, 1992 for a 30 year term. The Sellers have contacted the Provincial Government requesting a premature lease replacement for an additional 30 years and expect to achieve this extension by the end of 2008. The 2008 annual rent of $34,069 is calculated through a combination of moorage revenue and appraised value of the uplands. A schedule of annual rents in addition to a copy of the lease is available to qualified purchasers. JOSEPHINE ROAD PORT ROYALE CONDOMINIUMS Income generated from the marina is expected to increase in years to come, due to the shortage of available boat slips on southern Vancouver Island as well as more aggressive moorage rates. Specifically, the marina can generate additional revenue as a result of recent changes to payment by berth size rather than boat length, increases in moorage rates (2010), more efficient use of moorage space (moving towards fewer but larger boats), and better control of utilities with new electrical pedestals at each berth. Currently rates are as follows: 1. Annual contract pre-paid in full Financial Information July 2009 Income: www.dtzbarnicke.com/victoria Gross Revenue Expenses Net Income $ 588,212 $-121,031 $ 467,181 $10.00/ft/mo 2. Annual contract paid in monthly $11.00/ft/mo installments by 12 post-dated cheques 3. Month to month $13.00/ft/mo Tel. (250) 382-3400 FOR SALE Anglers Anchorage Marina Key Facts Environmental: A Phase 1 and 2 Environmental Assessment has been conducted on the site. In 2004 Wittich Environmental Services oversaw the remediation of soils and removal of three underground storage tanks (used over a decade ago, prior to the marina eliminating fuel dispensing on site). The site is now considered a low environmental risk and a copy of the report is available to qualified purchasers. Zoning: C-6 Marina Commercial (Lot 1) W-2 Water Area Total Moorage: Approximately 5,000 lineal feet Legal Description: Aquatic Lease Lots 402 & 403, Cowichan District 905 Grilse Lane – PID 000-241-369 Lot 1, Section 12, Range 2 West, South Saanich District, Plan 17569. Property Taxes: 905 Grilse Lane $31,172 Price Directional Map Seven Million One Hundred Thousand ($7,100,000) Dollars For more information, please contact: DTZ Barnicke Victoria Griffin Lewis, Rick Pettinger and Amanda Crowder Tel: 250 382 3400 Fax: 250 382-1333 www.dtzbarnicke.com Information contained herein has been obtained from the owners or sources deemed reliable by DTZ Barnicke Victoria Ltd. While we have no reason to doubt its accuracy, we regret we cannot guarantee such information. All measurements and other information herein should be independently verified by the reader or prospective user and is subject to the user’s own inspection of the premises and due diligence work and to the user’s satisfaction with the results of such review.
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