- What A shopping centre built in 1975 has dropped its asking price
- Why The new asking figure is $16m, down from $19m
- What next The sales campaign touts the potential for redevelopment
A shopping centre for sale in a Vancouver suburb has seen a hefty price reduction.
Guildford Plaza, at 10383, 150 Street in Surrey, is now asking $16m, down from $19m. Macdonald Commercial has the marketing assignment.
The 22,500 sq ft property, built in 1975, is in the centre of the Guildford neighbourhood. Tenants include KC Fresh Produce, Guildford Plaza Dental Clinic and Sabai Thai Restaurant. There are 72 parking stalls.
The campaign pitches the property’s potential for redevelopment while enjoying “significant holding income” in the meantime. The property can support a mixed-use tower of up to 26 storeys with a podium of up to six storeys.
The plaza is on the corner of 150 Street and 104 Avenue, one of the city’s main corridors across from Guildford Town Centre Mall, home to more than 200 stores. The property is 25 km southeast of downtown Vancouver.
