Living room rendering for a Customs House suite shows spectacular harbour views through large floor to ceiling windows. Site work for the luxury homes project is due to start this fall, with the projected completion time early 2020. (Courtesy Edelman)

Luxury B.C. condo fetches $10.79M

Victoria penthouse eclipses previous $7M sale in same building

A luxury condo overlooking the Fairmont Empress, B.C. legislature and the Inner Harbour was sold on Nov. 26 with the biggest price tag a condo has seen in the city.

The building, which is expected to be move-in ready for late spring 2020, features two penthouse suites. The sub-penthouse was sold last year for just shy of $7 million. At the time it was the most anyone had paid for a condo in Victoria.

“This has eclipsed it by an additional $4 million. This is by far the highest price paid for a condo [in Victoria],” said Craig Anderson, the director of marketing and sales for Magnum Projects.

READ MORE: Customs House envisions Inner Harbour luxury in Victoria

The $10.79-million penthouse suite features three bedrooms — each with an ensuite bathroom, balcony and walk-in closet — in 4,400 square feet with an additional 1,900 square-foot rooftop patio.

Of the 57 units planned for Customs House, only nine have not yet been sold. Anderson said most of the buyers are quite private, but all of them are Canadian citizens planning to make the Customs House their primary residence.

“We’ve not seen any investors in this project,” he said. “One thing I find quite interesting is everybody who’s bought into this project has a connection to Victoria, whether they went to Brentwood or they went to UVic or they had business interests in Victoria.”

Originally built in 1898, the building served as police barracks. In 1914, it was added onto before a fire in 1937 burned down a portion of it. It was rebuilt in 1951. With so many additions and changes over the decades, different floor heights made it difficult to find a new purpose for the waterfront structure.

“You couldn’t do anything with the building other than maintaining the heritage facade,” Anderson said.

The exterior wall facing the waterfront is all that remains intact, and the condos will be built within. Space for a parkade is currently being dug out.

Soon the building will have new life. Cielo Properties, Anderson’s client, is also looking to add a high-end restaurant in the first floor.

It will add “preservation for all tourists coming into the city to see it, but also very important is I believe it adds a gateway to the business district on Government Street,” Anderson said. “You can imagine it’s dusk, you’re walking up Government Street and in the window, it’s fine dining. It just sets off that entire building and it really sets a tone for the downtown core.”

READ MORE: City grants 10-year tax ‘holiday’ for luxury condo building


@KeiliBartlett
keili.bartlett@blackpress.ca

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

 

A rendering shows the finished Customs House residential/commercial project at Government and Wharf streets. Site work for the luxury homes project is due to start this fall, with the projected completion time early 2020. (Courtesy Edelman)

Just Posted

The Cowichan Fury’s Conor Williams steals the ball from a JDF Kings player during Saturday’s Div. 3 match at the Sherman Road turf. (Kevin Rothbauer/Citizen)
Cowichan Fury play to another tie on the road

Tolfo and Smith each score two for Div. 3 team

Halloween will be different this year but the CVRD and volunteers are working hard to make it special. (CVRD photo)
Youbou Halloween festivities a go, but digitally

Swing by the Hall to add to your haul

The Cowichan Bulldogs’ Ben Wilson runs the 40-yard dash during the Vancouver Island football combine at McAdam Park on Oct. 24. (Kevin Rothbauer/Citizen)
Island football players meet in Cowichan for combine

48 players test their skills in bid for provincial programs

‘Gran’pa grew it, says young Stephen Nahirnick as he maintains a tight grip on one of Steve Nahirnick’s Hallowe’en pumpkins. Stephen is son of Jack and Joan Nahirnick and he took the opportunity last week to enjoy splendid autumn weather while perched on grandfather’s knee while the elder Nahirnick was harvesting luxuriant and large garden.’ (Lake News/Oct. 22, 1980)
Flashback: Halloween night full of activities, crime

Welcome to Lake Flashback. Reporter Sarah Simpson has been combing through old… Continue reading

NDP Leader John Horgan celebrates his election win in the British Columbia provincial election in downtown Vancouver, B.C., Saturday, Oct. 24, 2020. THE CANADIAN PRESS/Jonathan Hayward
Horgan celebrates projected majority NDP government, but no deadline for $1,000 deposit

Premier-elect says majority government will allow him to tackle issues across all of B.C.

B.C. Liberal Leader Andrew Wilkinson speaks during a drive-in car rally campaign stop at a tour bus operator, in Delta, Saturday, Oct. 17, 2020. THE CANADIAN PRESS/Darryl Dyck
Andrew Wilkinson stepping down as B.C. Liberal leader

Will stay on until the next party leader is chosen

Campbell River's new hospital, July 2018
Nurse diverts opiates and falsifies records at Campbell River Hospital

Nurse facing disciplinary action for moving opiates out of the hospital

VicPD and B.C. Conservation Officer Service teamed up to free two bucks who were entangled in a fishing net and dragging a wheelbarrow sized piece of driftwood behind them. (VicPD)
VIDEO: Police, B.C. Conservation help two bucks caught in one fishing net

Bucks were also dragging a wheelbarrow sized piece of driftwood behind them

A heavy police presence was spotted in Lumby, Monday, Oct. 26, 2020. (Facebook)
Police situation leads to ‘hold and secure’ at North Okanagan school

Police call for social media blackout in ongoing incident

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

École de l’Anse-au-sable. (Google Maps)
COVID-19 outbreak forces closure of Kelowna school

The outbreak is the first within B.C.’s school system since classes resumed back in September

FILE – B.C. Lions and Toronto Argonauts owner, Senator David Braley speaks after the CFL announced Vancouver will host the 2014 Grey Cup championship football game during a news conference in Vancouver, B.C., on Friday March 8, 2013. THE CANADIAN PRESS/Darryl Dyck
BC Lions owner David Braley dead at 79

Braley had bought the CFL team prior to 1997 season

Most Read