Equal Opportunity Housing
905 & 922 Grilse Lane, Brentwood Bay, British Columbia
- $7,900,000.00
- MLS # 296415
Cash flow and opportunity make this the ideal investment. Located in the safe protected harbour in Brentwood Bay, Anglers Anchorage Marina has been a favourite marina for boaters for decades. The marina has expanded and updated over the last few years with over $1.8 million being spent on upgrades. The work undertaken included new and rebuilt docks, new deck coverings and more. The electrical service was upgraded to allow individual metering to each berth, along with water and sewer hook-ups. There was a new marina services building constructed for the marina manager and it also has washrooms with showers and laundry facilities. The marina and the docks provide a very steady and increasing source of revenue. In addition there is revenue from a well known local restaurant, Blue Bayou Cafe which has been leasing space since 1999. The property consists of the foreshore lease of approximately 5 acres with 5,000+- lineal feet of moorage space within the lease area. A new 30 year extension was granted in 2009. The upland portion consists of two properties. The first is lot 1 which is .75 acres and is the parking area for the marina and currently has parking for 85+- cars. There is also development potential for part of this property through rezoning. Additionally there is a second parcel, lot 13, the portion of the Anglers Anchorage Marina site between Marchant Road and Grilse Lane (922 Grilse Lane) which is designated commercial, is used only for the purposes of access to the balance of the marina site south of Grilse Lane, and for landscaping. This lot use could change upon rezoning and a change in the OCP and would be ideal for more parking or?? There is much to like about this property including the steady income and the increases along with it, the possibility for some residential component above the parking lot and more. Much of the hard work has been done with the renovations and replacements, the individual billing for utilities and lease renegotiations. There is a manager in place if you wish to have a passive investment or it is something you can also manage on your own. Call us today for complete information and more.