Cedarbrae Estates Surrey

Strata Wind-up Mandates For Sold

Summary

CIVIC ADDRESS	10232, 10238, 10244, 10250, 10256, 10264 132nd Street Surrey, BC
CURRENT IMPROVEMENT	24 two-storey townhouses
YEAR BUILT	1982
SITE SIZE	1.54 Acres (approx.)
NET EXISTING BUILDING AREA	66,980 sq. ft. (approx.)
CURRENT ZONING	RM-45 – Multiple Residential 45 Zone
OCP LAND USE	Residential Low to Mid-Rise
PROJECTED FAR	Up to 2.5 FAR
STATUS	Sold

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The Opportunity

CBRE Limited is pleased to bring to market the opportunity to acquire a large 1.54 acre residential development site centrally located within close proximity to SkyTrain and the rapidly transformed, vibrant Surrey City Centre in Surrey, British Columbia. “Cedarbrae Estates” is a 24-unit stratified townhouse complex that is prominently situated in the heart of Surrey’s rapidly developing City Centre urban hub. Surrey City Centre offers a diverse cross section of world class amenities such as rapid transit; parks & recreation; a new public library; an abundance of shops and services; the state-of-the-art Bell Performing Arts Centre and a variety of secondary/post-secondary education facilities: Simon Fraser University (SFU) and Kwantlen Polytechnic University (KPU) in one of the fastest growing municipalities in the Province!

Investment Highlights

Large 66,980 square foot rectangular shaped land parcel that is currently improved with six separate buildings comprised of 24 – 2-storey stratified townhomes;
The site is just steps to SkyTrain and the vibrant, thriving Surrey City Centre, anchored by the Civic Plaza & Hotel, new public library, Central City Shopping Mall, Bell Performing Arts Centre, SFU, KPU, West Village Energy Centre & Park and Holland Park;
The property is currently designated as Multiple Residential (low to mid rise) up to 2.5 FAR and permitting up to 4 – 5-storeys in the Surrey City Centre Plan;
Average household income within a 3-km radius of Cedarbrae Estates exceeds $84,980 per annum and is projected to increase to $98,202 in 2025;
Surrey’s condo market has been incredibly active throughout the early part of 2021 with some condo projects reportedly selling out over a period of a few days;
The redevelopment of Cedarbrae Estates would provide a developer the unique opportunity to contribute new housing options in a growing and highly desirable neighborhood close to transit and world class amenities.

BID DATE: September 17, 2021, Friday

Should you have an interest in submitting a Bid Submission, please contact Agnes Cheung at Agnes.Cheung@cbre.com for a copy of the Standard Letter of Intent (LOI) template to be used for all submissions.