Quote:
Originally Posted by Changing City
From the article... "Multiple industry sources told Western Investor that the sale price was $74 million. BC Assessment values 1185 West Georgia at $60.1 million in an assessment dated to July 1, 2025."
|
The article also said the prevous assessment was a bit higher (with the sale price skewed to the higher assessment):
"The previous assessed value was $81.3 million. The sale price effectively split the difference."
VancouverMarket.ca refernces the much higher 2022 price paid by Allied.
Quote:
|
At $446/SF, the sale prices well below the $814/SF Allied paid in 2022 — a roughly 45% decline over four years that reflects the broader repricing downtown Vancouver’s office sector has undergone amid elevated vacancy and Allied’s own well-documented balance sheet pressures, which included a billion-dollar writedown on property values and an accompanying billion-dollar net loss reported in its most recent quarter. Notably, BC Assessment valued the property at $60.1 million as of July 1, 2025, down from a prior assessed value of $81.3 million — putting the $74 million sale price almost exactly between the two.
|
https://vancouvermarket.ca/2026/08/07/1185-west-georgia-street-vancouver-office-sale/
Prev
Linear Mode
