The subject property is improved with a three-storey building comprised of 7 stratified units with a myriad of top-of-the-line amenities. Exceptional ocean, forest, and island views; only minutes away from retail shops, restaurants, parks and other major tourist attractions. Live onsite, operate and enjoy the peaceful Salt Spring Island community and/or add to your strategic IPP portfolio in a dynamic, alluring hospitality submarket with limited supply and sizeable demand.
Address
118 Rainbow Road
List Price
$5,700,000
Type of Dwelling
COMM
Area
British Columbia
Sub-Area
Salt Spring
Bedrooms
15
Bathrooms
14
Floor Area
8,298 Sq. Ft.
Lot Size
17,642 Sq. Ft.
Year Built
2011
Listing Brokerage
Macdonald Commercial
Postal Code
V8K 2R7
Zoning
CA1
Tax Amount
$18,267.69
Tax Year
2022
Site Influences
Twelve-month RevPAR in the Vancouver Island hotel market was up sharply as of February, climbing at a 43.9% year-over-year rate. The Gulf Islands area isn’t exposed to supply side pressures in the near-term: Nothing is underway in the submarket itself, and only a modest amount of development is ongoing in the entire Vancouver Island market. Mariner’s Loft is uniquely positioned for future success, as demand is soaring and there are very few hospitality properties on Salt Spring at present. Please reach out for further details re: the submarket and opportunity at hand.
Features
» Upscale, well positioned hospitality property steps away from Central Ganges Village » 7 individual stratified units with 15 bedrooms, high quality finishing and attractive unit amenities » Strong ADR and RevPAR metrics with noteworthy upside » Premium location with world class views of Ganges Harbour » Streamlined management systems in place allowing for straightforward, hands off operations » Close proximity to retail shops, restaurants and noteworthy tourist attractions
