12.93 acres (+/-)
Devencore Realty Victoria Ltd. is pleased to present the offering for sale of the 12.93 acre (+/-) retail/mixed-use development site at 850 Shawnigan Mill Bay Road in Mill Bay, BC.
The subject fronts on the west side of the Island Highway (Trans Canada Highway #1) and south side of Shawnigan Mill Bay Road. It is part of the long-awaited high-profile 150 acre “Stonebridge” development that will encompass substantial single and multi-family housing components immediately adjacent to the subject. Servicing and construction of the project’s first housing phases are expected to begin in 2019.
At this key intersection in the heart of Mill Bay, the subject affords the opportunity to acquire a zoned “town center” site with outstanding amenities in an area of significant growth. The site is ideally located for the development of a grocery anchored community shopping center capable of attracting the area’s leading tenants to serve residents of the entire South Cowichan Valley and their visitors. The subject is also well-suited for seniors housing and condominiums in an area that is inadequately served in that regard.
Still attractively priced at a time of rapid escalation of commercial and residential land values in Victoria, the subject is poised to take advantage of the growth pressure building throughout the South Island and offers tremendous long term value.
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