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Victoria retail thread: retailer news, comings and goings


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#7041 Victoria Watcher

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Posted 17 September 2021 - 07:56 AM

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?



#7042 spanky123

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Posted 17 September 2021 - 08:30 AM

how is the escalator repair coming along?

 

Finished.

 

Tourism is 70%+ of their business.


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

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#7043 mbjj

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Posted 17 September 2021 - 02:11 PM

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. 


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#7044 Victoria Watcher

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Posted 07 October 2021 - 06:55 AM

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.

 

 

887887_2.jpg

 

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.


#7045 Barrrister

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Posted 07 October 2021 - 06:58 AM

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



#7046 Matt R.

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Posted 07 October 2021 - 11:28 PM

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

Matt.
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#7047 Victoria Watcher

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Posted 08 October 2021 - 06:11 AM

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

 

887984_1.jpg



#7048 Barrrister

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Posted 08 October 2021 - 06:21 AM

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.


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#7049 Victoria Watcher

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Posted 08 October 2021 - 06:24 AM

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.

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#7050 Barrrister

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Posted 08 October 2021 - 06:28 AM

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?



#7051 Victoria Watcher

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Posted 08 October 2021 - 06:36 AM

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.


#7052 Mike K.

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Posted 08 October 2021 - 07:59 AM

MEC is a tenant of this space.


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#7053 Victoria Watcher

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Posted 08 October 2021 - 08:17 AM

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.


#7054 Spy Black

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Posted 08 October 2021 - 08:32 AM

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.


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#7055 Mike K.

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Posted 08 October 2021 - 09:57 AM

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


No, it is a local company.

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#7056 Victoria Watcher

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Posted 08 October 2021 - 09:59 AM

thank you. the building developer?

#7057 Mike K.

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Posted 08 October 2021 - 10:00 AM

I believe so, the company that repurposed the building.

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#7058 spanky123

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Posted 08 October 2021 - 02:44 PM

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!



#7059 Nparker

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Posted 08 October 2021 - 02:45 PM

I think Irish Linens depended a lot on tourists.



#7060 Love the rock

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Posted 08 October 2021 - 02:54 PM

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

 

887984_1.jpg

Don’t tell David Eby about this .



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