CommercialHBC building in downtown Vancouver could be sold for close to $1B

HBC building in downtown Vancouver could be sold for close to $1B

Related stories

Georgian Towers 2.0 gets 3D redesign

Plans to demolish one of the oldest apartment buildings...

The best regions to live in Canada

If you’re looking to move to Canada but unsure where’s best to live, this handy guide to the best regions to live in will help you.

Six single-family lots on West 41st to become 88 new homes

The development, known as The Bromley, will consist of two, four-storey wood frame buildings on West 41st Avenue and two townhouse blocks on the laneway, with a landscaped courtyard in between them.

Reliance adds hotel rooms to workforce housing tower in bid for city approval

The CEO of Reliance Properties continues to push the City of Vancouver to relax its policy prohibiting residential development in the CBD.

Vancouver retail vacancy rates hit ‘extreme lows’

Despite taking a battering during the height of the COVID-19 pandemic, Vancouver retail vacancies are at extreme lows according to a new report from Colliers International.

Hudson’s Bay announced Monday that the company plans to sell their downtown Vancouver store at 674 Granville Street.

The six-storey building with its Corinthian columns was built in 1927, and was built on the site of a previous HBC store from 1893.

The interior of the building has been extensively renovated in recent years, with a new men’s department added to the sixth floor, and a high-end women’s department called The Room on the second floor. TOPSHOP currently occupies the basement level, and the sub-basement has several licensed retailers including Starbucks and Nespresso.

“We are exploring a sale of this flagship property as the Vancouver real estate market has appreciated significantly over the past several years. While no decision to sell has been made, we continue to explore opportunistic transactions to enhance shareholder value,” said Richard Baker, HBC’s governor, executive chairman and interim CEO. “We are committed to operating our Hudson’s Bay store at this location and any possible sale would include the continued operation of Hudson’s Bay at this property.”

Hudson’s Bay would continue to leaseback the property in the event of any sale. The Globe and Mail reported that the sale of the downtown Vancouver store could fetch up to $900 million.

Subscribe for the latest development news

Peter Meiszner
Peter Meisznerhttps://www.peterforvancouver.com/
📢 I am running for Vancouver City Council with A Better City (ABC) and Ken Sim! Visit peterforvancouver.com for more information.
Snaile Smart Parcel Lockers

Newsletter

Latest stories