The Oceanview Lands - NAI Commercial
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The Oceanview Lands
EXECUTIVE SUMMARY
Contact: Randall Taylor,
Personal Real Estate Corporation
NAI Commercial Central Vancouver Island Ltd.
2 – 1551 Estevan Road, Nanaimo, B.C. V9S 3Y3
250 714 4248
rtaylor@naicommercial.ca
This Summary does not constitute an offering for sale nor a legally binding document.
1
The Opportunity
The lands known as the “Oceanview Lands” comprise five parcels which together contain nearly
420 acres of undeveloped land within the City of Nanaimo boundaries and an additional 97
acres located in the Regional District of Nanaimo (total of 517 acres). The Oceanview Lands
are bisected by the Cable Bay Trail which creates a natural buffer between dissimilar uses of
the lands on each side of the Trail.
Evaluation of the regional land supply and feasibility of development has led the owners
to consider development of the lands to the west of the Cable Bay Trail for industrial use.
This can become the most significant industrial park serving Vancouver Island. This also
presents a great opportunity to fill the industrial land supply-gap which is evident
throughout coastal British Columbia.
The Land Inventory and Capacity Analysis report to Council (June 2020) noted that the
vacancy rate for industrial property in Nanaimo is at 0.3%.
“With little to no industrial vacancy in Greater Victoria and Metro Vancouver, industries are
increasingly drawn to Nanaimo due to comparably lower cost of living and doing business.”
(Land Inventory and Capacity Analysis report to Council)
The location of this new industrial park can support the future of industrial enterprise and
employment operations throughout the Island and the Lower Mainland of British Columbia.
The Location
Nanaimo is located on the east coast of Vancouver Island; just 55 kilometers across the Strait of
Georgia from Vancouver and 113 kilometers north of the capital city of Victoria. The City is
located just above the 49th Parallel with access to the Washington State ports of Bellingham
(116 kilometers) and Seattle (211 kilometers).
Being connected to the Strait of Georgia affords Nanaimo with a deep-water port serving world-
wide ocean traffic as well as barge and ferry services to Vancouver, the British Columbia
mainland, and west-coast ports from Oregon to Alaska. Passenger ferry and commercial truck
ferries serve the Island and B.C. mainland several times each day.
Nanaimo is the second largest metropolitan area on Vancouver Island. The City is a classic
west coast community, offering natural beauty at every turn. It has one of the longest shorelines
of any city in Canada, and unlimited recreation options with a forested mountain backdrop
reachable within a few minutes of leaving the city centre.
2
The Land
The Oceanview West-side Lands comprise approximately 308 acres of contiguous land within
the City of Nanaimo and the Regional District of Nanaimo. Approximately 211 acres are located
in the City of Nanaimo and are proposed for industrial uses with an additional 97 acres located
in the Regional District of Nanaimo.
The Oceanview Lands are the undeveloped area west of Stuart Channel, stretching almost to
the Duke Point Industrial area. The northern boundary is parallel to Northumberland Channel;
separated from the shore by property owned by Mosaic Forest Management. The southern
boundary meets the Regional District of Nanaimo with 97 acres of the Oceanview Lands
contained within the Regional District. The land considered for industrial use adjoins industrial
land at the western edge and meets the Cable Bay Trail at the eastern edge.
(Environmental Assessment aerial photo showing the Oceanview Trail which bisects the property)
The land is primarily in a natural state. The topography of the land is a rolling open greenspace
and low-rise rock features stretching as much as a kilometer from east to west. Much of the
southern portions of the land are gently sloping or nearly level land, with ravines and steeper
sloped areas along the northern boundary and along the Cable Bay Trail.
The majority of the lands can be shaped to allow for large, level parcels required to
accommodate light to heavy industrial uses. Planning for this development of the lands will set
office, flex-space and light industrial users as a buffer along the greenspace, public areas and
offsite lands.
3Current Zoning and Land Use Designation
The lands within the City are currently zoned as Agriculture Rural Resource (AR 1) zone. AR 1
allows for agriculture (including growing and rearing of agricultural products, horticulture,
nurseries and commercial greenhouses, aquaculture and silviculture), campgrounds, kennels
and horse stables, golf course, and others permitted uses. (see City of Nanaimo bylaw 4500 for
further information).
The Official Community Plan designation is “Resort Centre”, which was established as a
masterplan to accommodate the Oceanview Golf Resort and Spa development.
The owners have received strong support from City of Nanaimo staff and elected officials to
consider change of zoning for the lands west of the Cable Bay Trail to allow Industrial uses. This
change of use is strongly supported in the June 2020 Report to Council which stated “a notable
lack of new (industrial land) supply” . . . “while there is a strong and growing demand for
industrial within the City”.
Benefits of the Oceanview Lands for Industrial development:
➢ Adjacent the established Duke Point Industrial area; Duke Pont was established
specifically as a large-lot industrial park. This area is nearly complete in its development
with few, if any, parcels of land available.
➢ Highways connecting to all of Vancouver Island : The location also offers direct
access to the Duke Point highway connecting the Oceanview Lands to all of Vancouver
Island via the Trans-Canada Highway and the Island Parkway.
➢ Commercial truck links to the mainland, Vancouver, Seattle and onward: The
Lands are located adjacent to the commercial transport terminals at Duke Point. These
terminals are served by Seaspan and B.C Ferries offering commercial trucks direct
access to the Lower Mainland of B.C. with connections throughout North America.
➢ Short sea shipping: Oceanview Lands will serve as an industrial location for
operations focused on the Mainland of British Columbia as well as the rest of North
America. Duke Point provides short sea shipping by barge, container shipping, bulk
carriers and transport truck ferry service.
➢ Foreign Trade Zone designation: This designation relieves the payment of duties on
imported goods that will eventually be exported. This can have significant cash flow
benefits for Island manufacturers. Companies participating in the Customs Bonded
Warehouse Program qualify for complete deferral of duty and taxes.
4Individual Parcels
The Oceanview West-side Lands are comprised of two individual land titles within the City of
Nanaimo boundaries:
950 Phoenix Way 145 acres PID 023-922-907
1260 Phoenix Way 66 acres PID 008-747-741*
*(to be subdivided)
And one parcel in the Regional District of Nanaimo:
Nicola Road 97 acres PID 008-747-725
5Valuation of the West side lands; 308 acres (approx.)
This include three parcels to the west of the Cable Bay Trail but excludes the small portion of
1260 Phoenix Way which lays to the east of the Cable Bay Trail. This portion of 1260 Phoenix
Way has not yet been subdivided. Two parcels are within the City of Nanaimo boundary:
950 Phoenix Way 145 acres PID 023-922-907
1260 Phoenix Way (portion)_ 66 acres PID 008-747-741
The purchase price of the Oceanview west-side Lands includes an additional parcel of 97 acres
in the Regional District of Nanaimo and adjacent to land within the City of Nanaimo:
Nicola Road 97 acres PID 008-747-725
The purchase price of the three parcels to the west of the Cable Bay Trail will be:
Fifteen Million and Eight Hundred Thousand Dollars
($15,800,000.00)
Financing
The owners of the property may offer financing to assist in the purchase of the Oceanview
Lands. Terms and agreements of the vendor financing would be dependent on the purchase
arrangements and amount of financing required.
Completed reports and studies of the Oceanview Lands (available on request):
➢ Environmental Assessment, including Archaeological site mapping
➢ Recommended Tree Species Report
➢ Wildland Urban Interface Fire Hazard Assessment
➢ Traffic Impact Assessment
➢ L.I.D.A.R. elevations/ mapping
Continued development
The current owner/ developer of the lands is continuing with their applications to the City of
Nanaimo to amend the Land Use Designation in the Official Community Plan and subsequently
the zoning of the lands. The owner has started development work on the land, primarily in
negotiating services, access and in proving the feasibility of development.
6For further information or discussion about the Oceanview Lands please complete and
return the attached document;
BUYER’S CONFIDENTIALITY AND WORKING AGREEMENT;
We understand that NAI Commercial Central Vancouver Island Ltd. (“NAI Commercial”) is
acting as agent for the owner (the “Owner”) of the properties with the civic addresses of 950,
960, 1170, 1260 and 1270 Phoenix Way, Nanaimo, BC (the “Property”). The undersigned has
requested certain confidential information and documentation with respect to the Property,
which information and documents are not generally available to the public and are not already
known to the undersigned (the “Confidential Information”). As a condition and in consideration
of NAI Commercial providing such Confidential Information to the undersigned, the
undersigned agrees as follows:
1. The undersigned will keep confidential and not disclose or release to any third party any
of the Confidential Information now or hereafter provided by NAI Commercial or the
Owner to the undersigned, to any third party without the express written consent of NAI
Commercial or the Owner. Further, the undersigned will not use directly or indirectly any
Confidential Information in the furtherance of any business or purpose except for the
purpose of evaluating or carrying out a possible transaction with respect to the Property.
2. The undersigned will not contact any tenants, contractors, consultants or suppliers of the
Property in connection with a possible transaction with respect to the Property without
the prior written consent of NAI Commercial or the Owner.
3. The undersigned agrees that all Confidential Information, and any copies made thereof,
will be returned to NAI Commercial or the Owner or destroyed in the event that the
undersigned does not proceed with an offer to purchase or other proposed transaction
with respect to the Property. The destruction or return of the Confidential Information
does not relieve the undersigned of its obligation of confidentiality under this Agreement.
4. The undersigned confirms that the Confidential Information furnished and presented to
the undersigned is provided by the Owner or NAI Commercial acting as its agent and that
NAI Commercial has not verified and does not warrant or represent the accuracy and
reliability of the Confidential Information.
5. The obligations of the undersigned with respect to the Confidential Information shall
terminate on the completion of any transaction with respect to the Property which involves
the undersigned, or three (3) years after the date of this Agreement, whichever occurs
first.
Initials of signatory _______________
72.
BUYER’S CONFIDENTIALITY AND WORKING AGREEMENT
The undersigned hereby acknowledges, and agrees to, all terms of this Agreement.
Date: ____________________________________, 2020
Company Name: ______________________________________________
Company Signatory: ______________________________________________
Signature
Printed Name: _________________________________
Title: _______________________________
Registered Corporate Address: _________________________________________
__________________________________________
________________________ ___________
Telephone: ____________________
Facsimile: _____________________
Email: _________________________________
This agreement should be returned to:
NAI COMMERCIAL
CENTRAL VANCOUVER ISLAND LTD.
Attn; Sales Administration,
Facsimile: 250 753 4993
Email: psharma@naicommercial.ca
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