24,480 sq. ft. site
The subject property is located in the Town of Sidney, 26 kilometres north of Victoria, BC. Sidney is situated on the north east end of Saanich Peninsula with a population of 11,675 in an area of 5.04 square kilometres. The demographics vary widely with a mix of young families, a large retiree community, and many singles working in the wide variety of jobs nearby. The main sources of employment include the Victoria International Airport, BC Ferries, industrial and manufacturing, aviation, marine services, government and the prominent retail and service commercial sectors. Most of the industrial employment occurs in the Sidney West Industrial Park on the opposite side of the Trans Canada Highway from the subject site. The retail sector continues to be very strong in the town centre along with the recent announcement of Sidney Crossing and the redevelopment of Sandown Park. Sidney Crossing will provide roughly 98,000 square feet of retail space creating more than 200 full time jobs for the area. Sandown Park is in the early stages of planning but will see big box retailers such as Canadian Tire opening in Sidney.
The subject site comprises three contiguous and separately titled properties totaling 24,480 square feet. The assembly is rectangular in shape with roughly 204 feet of frontage and a depth of 120 feet. The site is cleared, fenced, and ready for development. There is an existing development permit in place for 24 units in three separate buildings. The approved development provides for an easy, shovel ready project. Alternatively, a purchaser could apply for a different development under the existing zoning in order to maximize the site’s potential.
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