Office space and office building development in Greater Victoria/south Vancouver Island
#541
Posted 27 February 2024 - 10:27 PM
- Nparker likes this
#542
Posted 28 February 2024 - 12:16 AM
Mrs ASE who is a senior talent manager for a very large foreign-based multinational firm, mentioned the other day that the Canadian HO which is here, has been advised by the US parent that the d/t office in Victoria in all likelihood will not renew its lease in spring 2025. It may even consider breaking the lease before then. Currently on average out of a couple hundred + staff only a handful these days actually show up at the office (that includes my wife, by choice) while the rest WFH.
Obviously I am not going to divulge who they are but in terms of scale it means several floors in a major office building will in all likelihood be vacating in just over a year, if not sooner. Scope-wise in terms of numbers its analagous to my old gang at Maximus Canada, where 260-odd of us moved over to Pac Blue Cross Solutions while the remaining Maximus staff bailed on the Birks Buidling Yates St office space in favor of more modest, much smaller digs at the Atrium. At this time at Pac Blue we are only required to be physically in the office 2x/month; IMO WFH isn't going away any time soon.
Edited by AllseeingEye, 28 February 2024 - 12:17 AM.
- Victoria Watcher likes this
#543
Posted 28 February 2024 - 06:34 AM
But it’s obvious what’s happening. People don’t want to be downtown any longer. Or on the periphery, especially the Douglas strip. Same problems as in downtown.
I wonder what’ll happen with the HSBC space on Douglas. If that space becomes vacant it’s not going to be easy to fill it.
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#544
Posted 28 February 2024 - 08:37 AM
#545
Posted 28 February 2024 - 08:43 AM
More good news from the world of AI!
#546
Posted 28 February 2024 - 08:59 AM
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Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#547
Posted 27 April 2024 - 02:02 AM
$3,498,000
206 Mary St
Edited by Victoria Watcher, 27 April 2024 - 02:02 AM.
#549
Posted 27 April 2024 - 06:31 AM
It is indeed an incredible location right there. But $3.5 million for a 7,200 sq. ft. lot? Wowza.
- Victoria Watcher likes this
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#550
Posted 27 April 2024 - 10:48 AM
#551
Posted 27 April 2024 - 10:50 AM
30 cents to rent a spoon.
- Matt R. likes this
#552
Posted 27 April 2024 - 03:54 PM
It is indeed an incredible location right there. But $3.5 million for a 7,200 sq. ft. lot? Wowza.
Only 50% more than the assessed value on B.C. Assessment. Maybe BC Housing will but it, the already own 225 Russell which is just sitting and growing mold!
- Nparker likes this
#553
Posted 28 April 2024 - 09:40 AM
What was it that they paid for it again, with the cost also including redevelopment, we were told?
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#554
Posted 25 May 2024 - 03:30 AM
$1,979,000
https://www.realtor....ctoria-downtown
Edited by Victoria Watcher, 25 May 2024 - 03:30 AM.
#556
Posted 31 May 2024 - 09:36 PM
#558
Posted 31 May 2024 - 10:22 PM
- Victoria Watcher likes this
#559
Posted 18 June 2024 - 06:09 AM
This means, over the long term, less demand for office space by the province in downtown Victoria.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#560
Posted 19 June 2024 - 07:51 AM
The downtown business community has to start figuring out what makes sense -now,- given what’s happening with so many provincial jobs that were historically tethered to downtown Victoria now open to the province as remote work.
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