- What Assistance Services Group has floated 248 Pall Mall Street
- Why The office building serves as the company’s Canadian headquarters
- What next Colliers has the assignment
An owner-occupied office building in London, Ont., is on the block for $10m.
Colliers has the assignment for 248 Pall Mall Street on behalf of Assistance Services Group. The valuation for the 52,000 sq ft building is $193/sq ft.
The building was completed in 1990. It currently serves as ASG’s Canadian headquarters. Amenities include an outdoor patio, conference rooms, two elevators and a cafeteria.
There is a parking lot adjacent to the property with 560 surface and underground spaces. A public transit stop is within 150 m. It’s near Richmond Row, Victoria Park and London station. London International Airport is 8.5 km from the office building.
The property is zoned business district commercial (BDC), permitting a variety of uses including for a medical office, financial institution, hotel or retail store.
As of Q3, the office vacancy rate in London’s core was 31.4%, according to CBRE, while the average net asking rent was $13.80/sq ft. The market recorded 51,120 sq ft negative net absorption for the quarter.
Assistance Services Group is part of the Foundever group of companies. Laurent Uberti is co-founder, president and chief executive of Foundever, and Olivier Camino is co-founder and chief operating officer.
