Thursday 29 November 2012

Standard Life - Sells Landmark 121 King Street West

Standard Life Sells it's Landmark Toronto Headquarters

Toronto Skyscraper Listing

This part of the massive transaction has not  yet closed. But is solid to firm, so says the company insider:

The Toronto section is for the 25-storey Standard Life Centre at 121 King St. W. It's the latest large acquisition by Bentall, which bought 10 Dundas St. E. in Toronto for $226-million in 2011.
At a time when residential sales are softening in many parts of the country, the portfolio sale illustrates the ongoing demand for office properties in Canada.


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A rare building I found on my tour today. The Standard Life Building at 121 King West is owned by its lead tenant. The Standard Life Assurance Company of Canada. The building itself is. 26 floors and has 507,000 square feet of rentable/leaseable space. Its located in the heart of the Toronto Financial District and is probably best known for its gold tinted glass and the massive LED that posts a stock ticker. It is next to 145 King West and across the street from 150 King West.
New Trends in Condo Buying Emerging in the Toronto Area

 A few new trends to watch out for in the Toronto area when it comes to buying homes as well as buying condos. When it comes to buying homes, the latest tactic is to put a property which had previously been listed on the MLS system, on a bidding site, or list through an auction house to get buyers, sending the price of single detached homes soaring.

 As for condos the latest buying technique is the new trend with regards to micro housing, or micro condo living. And we’re seeing now, specifically designed condos to meet that purpose. Another new trend to look out for is the lack of supply in the purpose built rental housing market in Toronto. Even as new condos come online there remains a shortage of apartments built specific to that purpose, so condo rentals have increased even as vacancy climbs, rentals rates do as well.

 Busy Condo Market Boosts Toronto Home Sales 

With fewer homes in the detached category available in Toronto, new home buyers seem to be opting for new condos, with sales heading forward at a rocket pace last month. Sales of Existing Homes in the Toronto area moved up by a whopping 2.1% in February 2014, and that is compared to the same time period last year. That was mainly due to a 12.5% increase in the sales of condos within the city so stated by the Toronto Real Estate Board. That will contrasts with the sales declines that occurred in townhomes, detached and semi-detached housing during the month, which was mainly due to a constrained supply of those housing types.

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