This 40,500 square foot income property has strong holding income. It has two-storeys, with the lower level facing Spring Street and the upper level facing St Johns. Many tenants have occupied spaces for 10+ years. The purchaser has an opportunity to re-engineer current lease rates for an increased overall return on investment. Furthermore, the City of Port Moody is currently re-drafting the Official Community Plan (OCP) which will include an overhaul to the current land use designations. The objective of the OCP is to facilitate growth and increase the density for areas close in proximity to the two future Evergreen Line stations within Port Moody City limits. Rocky Point Centre is in a logical location for redevelopment to medium or high density mixed use built form.
The subject site, Rocky Point Centre is conveniently located along Port Moody’s busiest thoroughfare road ways, St Johns Street, in the City Centre. St Johns offers excellent exposure and foot traffic to businesses operating within the complex. Rocky Point Centre is within walking distance to the existing Westcoast Express train station and the future Evergreen Line Skytrain Station.