Anglers Anchorage Marina FOR SALE Victoria, BC Located in Beautiful Brentwood Bay, BC

FOR SALE
Anglers Anchorage Marina
Located in Beautiful Brentwood
Bay,
BC
Victoria,
BC
Opportunity:
To acquire a well established marina on
beautiful Vancouver Island with steady
year round income.
Location:
Superbly located at 905 Grilse Lane
(933 Marchant Road) in beautiful
Brentwood Bay Village, within the
municipality of Central Saanich, in
Greater Victoria.
Upland Lot
Blues
Bayou
Description:
Large marina with approximately 5,000
lineal feet of moorage, significant
recent improvements to docks,
electrical and sewage system in 2008.
Excellent opportunity to steadily
increase income.
Griffin Lewis
griffin.lewis@dtzbarnicke.com
Rick Pettinger
Anglers Anchorage Marina
rick.pettinger@dtzbarnicke.com
Amanda Crowder
amanda.crowder@dtzbarnicke.com
DTZ Barnicke
888 View Street
Victoria, BC, V8W 1K2
Tel. (250) 382-3400
Fax. (250) 382-1333
Globally Connected, Locally Focused
FOR SALE
Anglers Anchorage Marina
Overview
DTZ Barnicke is pleased to present this rare opportunity to acquire a large and wellestablished marina operation on the periphery of Victoria, BC. Anglers Anchorage Marina
benefits from an ideal location within Brentwood Bay, just a short 20 minute drive to
downtown Victoria. The Marina is located on the western shore of the Saanich Peninsula
where it enjoys magnificent southwest ocean and mountain views across Finlayson Arm to
Malahat Mountain. The subject is comprised of an upland parcel (currently used for
parking) of 0.75 acres and a long term provincial aquatic land lease of about 5 acres.
History
The calm and protected shores of the Saanich Inlet and particularly Brentwood Bay have
long been home to several marinas that line its shore. Anglers Anchorage Marina itself has
a long history of use as an anchorage and more recently as a marina, having previously
operated under the names of Anchorage Tea Garden and Anchorage Boathouse.
Brentwood Bay
Looking towards Brentwood Bay
The subject property is ideally located in Brentwood Bay within the municipality of Central
Saanich. This predominantly rural community is home to roughly 16,000 residents and is
favorably positioned between the picturesque Haro Strait to the east and Saanich Inlet to
the west, while just a short 20 minute drive to downtown Victoria, 15 minute drive to the
Victoria International Airport, and a 5 minute drive to beautiful Butchart Gardens.
Butchart Gardens is the region’s most powerful tourist attraction and the economic and
aesthetic focal point of Central Saanich. Drawing close to one million visitors annually, it is
ranked the 3rd busiest tourist destination in the Province and the most popular tourist
attraction on Vancouver Island.
Brentwood Bay Village offers excellent accommodation, waterfront restaurants and all
amenities within its vibrant neighbourhood commercial centre. The Village is rapidly
developing and has recently undergone some significant street beautification upgrades.
The property itself benefits from stunning ocean views and its proximity to amenities. It is
located within a largely residential neighbourhood consisting of both single family and multifamily dwellings. Brentwood Bay and the Inlet area are popular for boating, kayaking,
fishing and diving.
Saanich Peninsula, Vancouver Island
www.dtzbarnicke.com/victoria
Tel. (250) 382-3400
FOR SALE
Anglers Anchorage Marina
Mill Bay Ferry with Subject Property in Distance
Butchart Gardens
Brentwood Bay Beachfront
Brentwood Bay Village
Marina Services Building
Site and Improvement Description
The property offers a combination of marine commercial and restaurant uses with potential
for steady income growth. The subject comprises an upland fee simple lot in addition to an
aquatic land lease in Brentwood Bay.
The upland parcel (Lot 1) is paved and serves as the parking lot for the marina. It can hold
about 85 vehicles and is approximately 0.75 acres in size. Accessed off of Grilse Lane, the
lot is irregularly shaped and slopes gently downward from north to south. The new Marina
Services Building is located on the south side of the parking lot at the waters edge.
The 30 year aquatic land lease from the Province of BC comprises 2 lots totaling
approximately 5 acres with about 5,000 lineal feet of moorage within the boundaries. The
original term of the lease is set to expire in 2022, though a new 30 year lease has been
applied for and is expected to be granted in 2008.
At present, a significant upgrade program is underway which will completely transform
Anglers Anchorage Marina. Upon completion (scheduled October 2008), the subject
property will benefit from substantially rebuilt docks with the majority of wharves and fingers
having new cedar wood decking, as well as being re-secured with “screwed-in” pilings.
Upgrades have also been undertaken to provide electrical service, municipal water, and
sewage hook-up to each individual slip. In addition, an attractive new 1100 square foot
Marina Services Building is under construction and will contain a managers office, lounge,
laundry facilities, and 4 washrooms and showers. Finally, the plan anticipates significantly
upgraded landscaping, walkway and parking facilities.
www.dtzbarnicke.com/victoria
Site Map
Tel. (250) 382-3400
FOR SALE
Anglers Anchorage Marina
Site and Improvement Description Continued
BICKFORD LANE
MARCHANT ROAD
ANGLER’S LANE
LOT 13
Improvements constructed upon a portion of the leased
lands are presently sub-leased by the very popular local
restaurant “Blues Bayou.” The tenant is in the second year of
a 5 year term which expires April 30, 2012, with an option to
renew for a further 5 years. The restaurant consists of a
small dining room (330sf), kitchen and washroom facilities
(510sf), and a large patio (1025sf).
Additional Land:
The Sellers own a second fee simple parcel of land (Lot 13)
located adjacent to the parking lot consisting of about 12,100
square feet. This parcel is currently vacant. Access to the
marina remains off of Bickford Lane. Zoned R-1S (Small Lot
Single Family), there are many development opportunities for
this land. It can be purchased separate from the marina and
parking lot for an additional $800,000.
Aquatic Land Lease
The current aquatic land lease commenced March 31, 1992
for a 30 year term. The Sellers have contacted the Provincial
Government requesting a premature lease replacement for
an additional 30 years and expect to achieve this extension
by the end of 2008. The 2008 annual rent of $34,069 is
calculated through a combination of moorage revenue and
appraised value of the uplands. A schedule of annual rents in
addition to a copy of the lease is available to qualified
purchasers.
JOSEPHINE ROAD
PORT ROYALE CONDOMINIUMS
Income generated from the marina is expected to increase
in years to come, due to the shortage of available boat slips
on southern Vancouver Island as well as more aggressive
moorage rates. Specifically, the marina can generate
additional revenue as a result of recent changes to
payment by berth size rather than boat length, increases in
moorage rates (2010), more efficient use of moorage space
(moving towards fewer but larger boats), and better control
of utilities with new electrical pedestals at each berth.
Currently rates are as follows:
1. Annual contract pre-paid in full
Financial Information
July 2009 Income:
www.dtzbarnicke.com/victoria
Gross Revenue
Expenses
Net Income
$ 588,212
$-121,031
$ 467,181
$10.00/ft/mo
2. Annual contract paid in monthly
$11.00/ft/mo
installments by 12 post-dated cheques
3. Month to month
$13.00/ft/mo
Tel. (250) 382-3400
FOR SALE
Anglers Anchorage Marina
Key Facts
Environmental:
A Phase 1 and 2 Environmental Assessment has been
conducted on the site. In 2004 Wittich Environmental
Services oversaw the remediation of soils and removal of
three underground storage tanks (used over a decade
ago, prior to the marina eliminating fuel dispensing on
site). The site is now considered a low environmental risk
and a copy of the report is available to qualified
purchasers.
Zoning:
C-6 Marina Commercial (Lot 1)
W-2 Water Area
Total Moorage:
Approximately 5,000 lineal feet
Legal Description: Aquatic Lease
Lots 402 & 403, Cowichan District
905 Grilse Lane – PID 000-241-369
Lot 1, Section 12, Range 2 West,
South Saanich District, Plan 17569.
Property Taxes:
905 Grilse Lane $31,172
Price
Directional Map
Seven Million One Hundred Thousand ($7,100,000) Dollars
For more information, please contact:
DTZ Barnicke Victoria
Griffin Lewis, Rick Pettinger and Amanda Crowder
Tel: 250 382 3400
Fax: 250 382-1333
www.dtzbarnicke.com
Information contained herein has been obtained from the owners or sources deemed reliable by DTZ Barnicke Victoria Ltd. While we have no reason to doubt its accuracy, we regret we cannot
guarantee such information. All measurements and other information herein should be independently verified by the reader or prospective user and is subject to the user’s own inspection of the
premises and due diligence work and to the user’s satisfaction with the results of such review.