COLLIERS INTERNATIONAL335 Wesley Street, Suite 105

Nanaimo, BC V9R 2T5250 740 1060

www.collierscanada.com

1.1 Acre Lakefront

Development Site

FOR SALE | 3679 Shenton Road, Nanaimo | BC

BRAD ARCHIBALDTEL: 778 690 2090brad.archibald@colliers.com

BRAD BAILEYTEL: 778 690 2088brad.bailey@colliers.com

JASON WINTONTEL: 778 690 2091jason.winton@colliers.com

Property Features

• 1.1 acre development site.

• R-1 zoned for single dwelling residential, with opportunity to rezone allowing for industrial uses. City could potentially allow mixed commercial & residential development (requires OCP amendment). Contact City of Nanaimo to confirm.

• Located in Central Nanaimo.

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Opportunity

This 1.1 acre development site located on Diver Lake in Central Nanaimo features +/- 127’ of street frontage along Shenton Road. The Official Community Plan designates this property as “Industrial” but due to the surrounding properties, rezoning to “Corridor” may be supported by the City of Nanaimo. Corridor allows for mixed use 2-6 storey developments with residential densities of 50-150 units/hectare. The land is improved with an older single family residential home.

Site

The property offers frontage on Diver Lake to the south and Shenton Road to the north featuring +/-131’ of road frontage. Adjacent properties include a two-storey office development to the west occupied by Windley Construction and Herold Engineering. There are two industrial properties to the east occupied by Walker’s Saw Shop and Archie Johnstone Plumbing and Heating. The site offers excellent lake and mountain views combined with great visual exposure to the #1 Trans Canada Highway. The site is sloped downward from north to south and includes riparian area setbacks from Diver Lake. There are municipal water services along Shenton Road and a sewer line currently servicing the property.

Development Potential

The property is currently zoned R-1: Single Dwelling Residential. The property requires rezoning to reach its highest and best use. The Official Community Plan designates this property as “Industrial” which would allow for a rezone to industrial uses. That said, due to the surrounding property uses, rezoning to “Corridor” could potentially be supported by the City of Nanaimo. Corridor allows for mixed use 2-6 storey developments with residential densities of 50-150 units/hectare. Colliers encourages all interested parties to contact the City of Nanaimo directly regarding potential future uses on the property.

Legal Description

Lot 2, Section 3, Wellington District, Plan 13166 PID: 003-157-512

Property Taxes (2017)

$4,247.60

Purchase Price

$1,350,000.00 $1,150,000.00