Yates Street Buildings

Commercial Plaza Investment

In July 2008, on behalf of Churchill VI Real Estate Limited Partnership a 50% beneficial interest in this property was acquired, with the remaining interest acquired by Churchill V Real Estate Limited Partnership. The total purchase price was $5,400,000.The buildings have a leasable area of approximately 58,000 sq. ft.

The properties benefit from visual exposure to vehicles travelling south along Yates Street, a well-travelled one-way thoroughfare in downtown Victoria. In addition, the properties are prominently situated just blocks from numerous downtown attractions, some of which include; The Bay Shopping Centre, Market Square, the Inner Harbour and St. Andrews Square.

Churchill is seismically upgrading the property in exchange for a 10-year property tax free period. Churchill is also constructing 40 rental residential suites to create additional income and value.