Fort Royal Medical Centre (50% interest)

1900 Richmond Ave., Victoria BC

Date Purchased December 2010	Date Sold June 2018
Purchase Price $5,350,000	Sale Price $6,500,000
Site Area acres	Gross Leasable Area 35,292 SF
Fund: Churchill 10 Real Estate Limited Partnership

Property Description

This four-storey, 35,292 SF professional office building is prominently located at the intersection of two major traffic routes – Richmond Road and Fort Street – giving the property great exposure and easy accessibility to downtown Victoria and the surrounding communities that make up Greater Victoria. The property benefits from its close vicinity to Royal Jubilee Hospital as well as its central location relative to downtown Victoria, Saanich, and Oak Bay. Directly across the street is a Pharmasave, making it easy for customers in Fort Royal Medical Centre to fill their prescriptions. Just a short walk from this property is Royal Oak Shopping Centre, a newer commercial plaza featuring tenants such as Safeway, Shoppers Drug Mart, TD Bank, other smaller shops, and a variety of restaurants. The property caters to a broad variety of medical office tenants but can accommodate a wide range of professional, non-medical office users. The common areas of the building have been recently upgraded and all units have in-suite plumbing. The property offers tremendous signage opportunities and there is onsite parking. The property was originally purchased for $10,700,000 in December 2010. The property was sold for $13,000,000 in June 2018. Participating funds in this property were: Churchill 10 Real Estate Limited Partnership (50%) and an affiliate of Churchill (50%).

Brochures

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