- What A numbered company has floated 214-224 Osborne Street
- Why The valuation works out to $203/sq ft
- What next Capital Commercial Investment Services has the assignment
Several office buildings with development potential are on the block for $4.4m.
Capital Commercial Investment Services has the assignment for 214, 216 and 218-224 Osborne Street in Winnipeg, Man, on behalf of a numbered company. The valuation for the properties, spanning 22,000 sq ft, is $203/sq ft.
214 and 216 Osborne Street were completed in 1905. Comprising retail space on the ground floors and office space on the second, the mixed-use properties are 100% occupied. The primary lease at 214 Osborne expires on Oct. 31, 2027, but the building is available for sublease at $2,800/month. There are 14 surface parking stalls.
218-224 Osborne Street was completed in 1914. The property is over 90% occupied by tenants including GV Accounting, Rehab for Hair and Winnipeg First Aid.
Zoning permits commercial, institutional, recreational and service facilities. They’re also within a New Residential Mixed-Use zone, allowing for future redevelopment potential. Two mixed-use residential developments were recently completed on adjacent blocks, bringing over 300 residential units and 15,000 sq ft of retail space to the area.
The properties are at Osbourne Junction, where several major thoroughfares, including Corydon Avenue and Pembina Highway, converge. The intersection is a main traffic hub between the city’s downtown and southwest.
214, 216 and 218-224 Osborne Street are 2 km from downtown Winnipeg, 4 km from CF Polo Park and 6 km from Winnipeg Richardson International Airport. Osbourne Station is nearby.
