8289 replies to this topic

[Victoria Watcher]

Has anybody been in The Bay Centre recently. How do the stores there stay in business. The Bay looked almost abandoned. 

 

how is the escalator repair coming along?

[spanky123]

how is the escalator repair coming along?

 

Finished.

 

Tourism is 70%+ of their business.

Edited by spanky123, 17 September 2021 - 08:30 AM.

[mbjj]

I used to shop for quite a few things at the Bay downtown, but now I don't care to walk there from a city parkade and I can't be bothered to fight through the maze of blocked streets and construction to get to the Bay parkade. I now go to Mayfair even though it's farther away. 

[Victoria Watcher]

This long-standing business is one of the pillars of Government Street and is a destination for a dedicated following of repeat clientele which visit both in-person, and online.

 

 

 

The Irish Linen store is known internationally as a premiere supplier of linen merchandise and complimentary items. The Linen Store was first established in 1910 and relocated in 1917 to its present location on historic Government Street, where it recently celebrated over a century in business. The proprietor has operated the business for more than 40 years and is keen to meet a buyer that will continue this legacy into the future and have this brand remain a cornerstone of Government Street retail. There is a long-term lease in place, with renewals, and historical and current financials available upon a signed confidentiality agreement, and the custom-built fixtures will remain in place.

 

$249,000

 

https://www.realtor....ctoria-downtown

Edited by Victoria Watcher, 07 October 2021 - 06:56 AM.

[Barrrister]

Hope the linen store does not end up just closing down. 

[Matt R.]

Sounds like a decent living. 36 years in Victoria, never stepped foot in there.

Matt.

[Victoria Watcher]

An exciting retail strata investment opportunity in the heart of Victorias downtown core. The opportunity is comprised of one (1) strata unit fully tenanted by MEC. The Property offers exceptional frontage spanning the width of an entire city block, bound by Johnson Street, Government Street and Pandora Avenue.

 

$12,500,000

 

https://www.realtor....ctoria-downtown

 

[Barrrister]

The problem with this property is that MEC might not be around in the long run since it was bought by a vulture fund and I am not sure how easy it would be to get another tenant.  Last time I drove downtown there seemed to be quite a few vacant stores but maybe somebody here knows if the vacancy rates are any higher than normal.

[Victoria Watcher]

is MEC the seller or have they always been just a tenant?

 

that entire area has gone downhill since Monty's closed.  and they removed the outdoor urinal.  and the building burned down.

Edited by Victoria Watcher, 08 October 2021 - 06:26 AM.

[Barrrister]

Good Point  VicWatcher, is MEC the actual owner and if it is then this might be some foreshadowing where things are going. Does anyone know?

[Victoria Watcher]

the new owner says they have been profitable chain-wide every month since the take-over.

Edited by Victoria Watcher, 08 October 2021 - 06:37 AM.

[Mike K.]

MEC is a tenant of this space.

[Victoria Watcher]

MEC is a tenant of this space.

 

we realize this.  we wondered if their owner is also the vendor.  

Edited by Victoria Watcher, 08 October 2021 - 08:17 AM.

[Spy Black]

If anybody had said back in the '60's that just the main floor of the Mac & Mac building would one day be worth almost 13 million dollars, I'm pretty sure they would have tossed that person in the bin.

[Mike K.]

we realize this. we wondered if their owner is also the vendor.

No, it is a local company.

[Victoria Watcher]

thank you. the building developer?

[Mike K.]

I believe so, the company that repurposed the building.

[spanky123]

Hope the linen store does not end up just closing down. 

 

It probably will unfortunately. Heard they sold linens to settlers back in the day!

[Nparker]

I think Irish Linens depended a lot on tourists.

[Love the rock]

An exciting retail strata investment opportunity in the heart of Victorias downtown core. The opportunity is comprised of one (1) strata unit fully tenanted by MEC. The Property offers exceptional frontage spanning the width of an entire city block, bound by Johnson Street, Government Street and Pandora Avenue.

 

$12,500,000

 

https://www.realtor....ctoria-downtown

 

Don’t tell David Eby about this .