FOR SALE Gottingen Street, Halifax, NS & 2230 Maitland Street, Halifax, NS

Transcription

1 FOR SALE 2165 Gottingen Street, Halifax, NS & 2230 Maitland Street, Halifax, NS Tim Margolian (902) Carlisle Norwood (902)

2 TABLE OF CONTENTS Introduction 3 Property Overview 4 Market Overview 5 Offering Process 6 Property Description 7 Building Description 8 Expenses 10 APPENDIX Location Maps (PID) 12 Legal Description 13 Agreement of Purchase and Sale 15 Schedule A 20 2

3 INTRODUCTION NORTH END COMMUNITY HEALTH ASSOCIATION (the Seller ) has retained Six Eight Realty Group (SERG) (the Brokerage ), as its real estate advisor in connection with the sale of the property located at 2165 Gottingen Street and 2230 Maitland Street, Halifax, NS (the Property ). The Property includes the right, title and interest of the Seller in and to the building. NOTICE TO THE READER This Confidential Property Information Portfolio (CPIP) has been prepared by the Advisor and is being delivered solely to assist prospective purchasers in deciding whether they wish to acquire the Property. This CPIP does not purport to be all-inclusive, or to contain all the information that a prospective purchaser may require. This CPIP is presented for information and discussion purposes only and does not constitute an offer to sell or the solicitation of any offer to buy the Property. The information on which this CPIP is based has been obtained from various sources considered reliable. The Vendor and the Advisor make no representations, declarations or warranties, express or implied, as to the accuracy or completeness of the information or statements contained herein or otherwise and such information should not be relied upon by prospective purchasers. If any information relating to the Property, in addition to the information provided in this CPIP, is provided at any time, orally or otherwise, by the Vendor or the Advisor, such information is provided as a convenience only, without representation or warranty as to its accuracy or completeness. Prospective purchasers should not rely on such information without independent investigation and verification. CONFIDENTIAILITY Prospective purchasers will not use or permit this CPIP to be used in any manner detrimental to the interests of the Vendor, the Advisor or their affiliates, or for any other purpose than a proposed purchase or the Property. The terms and conditions in this section with respect to the confidentiality and the disclaimer contained in the heading Notice to the Reader will relate to all Sections of the CPIP as if stated independently. The CPIP shall not be copied, reproduced or distributed, in whole or in part, to other parties at any time. It is made available to prospective purchasers for information purposes only and upon the express understanding that such prospective purchasers will use it only for the purposes set forth herein. Upon request, the recipient will promptly return all material received from the Vendor and Advisor (including CPIP) without retaining any copies thereof. In furnishing the CPIP, the Vendor and the Advisor undertake no obligations to provide the recipient with access to additional information. 3

4 PROPERTY OVERVIEW Seller: North End Community Health Association The Opportunity: Commercial / Retail space in a high traffic, redeveloping area, close to Downtown Halifax Taxes: $17,660 Site Area: +/- 7,060 sf Zoning: C-2 Total Building Area: +/- 5,873 sf Parking: +/- 12 Site Coverage: 57% OFFERS requested by March 1, 2017 at 1pm 4

5 MARKET OVERVIEW The Halifax Regional Municipality (HRM) is the capital of Nova Scotia. HRM includes Halifax, Dartmouth, Bedford, and Halifax County. The total population of the HRM is 393,096 (2011). Gottingen Street is the main commercial street in a redeveloping area of Halifax located in the North End, on the edge of Downtown Halifax. The North End of Halifax has a population of 16,435 (2011) Gottingen Street is located in close proximity to a large apartment development under construction, Global News, office buildings, commercial enterprises, and many trendy restaurants. 5

6 OFFERING PROCESS Interested buyers should note that the Vendor is under no obligation to respond to or accept any purchase proposal for the Property. The Vendor reserves the right to remove the Property from the market at its discretion without notice. The Property and all fixtures (if any) included with the Property are to be purchased on an as is, where is basis and there is no warranty, express or implied, other than as to good and marketable title. SUBMISSION GUIDELINES: The Vendor requests that offers be submitted using the following guidelines: 1. Schedule A (refer to Appendix) 2. Name of the ultimate beneficial owner(s) or the purchaser, including their respective percentage interests. If the ultimate beneficial owner(s) of the purchaser is not a Canadian publicly traded company, then all shareholders owning more than 10% of the ultimate beneficial ownership of the purchaser are to be identified. 3. Evidence of the purchaser s financial ability to complete the transaction, including the method of financing the purchase price. 4. Submissions of the offer should be directed to the attention of: Tim Margolian tmargolian@sixeight.ca (902) Six Eight Realty Group 1341 Birmingham Street, Halifax, Nova Scotia, B3J 2J3 6

7 PROPERTY DESCRIPTION Assessment (2016) $544,800 Site Area 2165 Gottingen Street +/- 4,000 sf 2230 Maitland Street +/- 3,060 sf Total +/- 7,060 sf Site Coverage 57 % Frontage 2165 Gottingen Street +/- 40 ft 2230 Maitland Street +/- 30 ft Access Services Front Door (Gottingen Street), Rear Door (Maitland Street) Full Municipal Services + Natural Gas Zoning C-2 Leased Equipment None Parking +/- 7 Building Base Area +/- 4,000 sf 7

8 BUILDING DESCRIPTION Type Age Stories Commercial +/- 50 yrs 2 levels, and a full basement (below grade) Building Size Ground Floor +/- 4,000 sf Second Floor +/- 1,873 sf Total (above grade) +/- 5,873 sf Basement (Storage) +/- 4,000 sf Foundation Structure Exterior Windows Exterior Doors Roof Elevator Interior Floors Walls Ceilings Mixture of poured concrete, stone and wood Wood and a steel support beam Front, wood shingle cladding Rear, painted brick and wood shingle cladding Vary in construction, and includes metal and wood framing Metal cased commercial grade with windows Upper roof is gravel built-up, and lower roof is a rolled system 2-person elevator servicing main and second floor Primarily rolled vinyl Painted drywall Lay-in ceiling with acoustic tiles, and painted drywall 8

9 Electrical Service Plumbing Sprinkler Heating / Air Conditioning Security System 400-amp, 3-phase, 4-wire main service Main floor 3, 2 pc washroom, upper level has 1 washroom and a kitchen. Additional sinks located throughout Main floor, and upper floor have sprinklers Roof-top HVAC. HRV unit out of commission Installed, and monitored 9

10 EXPENSES Lights & Heat $20,994 $19,463 $16,380 Taxes $15,645 $16,394 $17,660 Snow/Garbage/Recycling $4,408 $3,323 $5,140 Maintenance & Repairs $4,433 $9,942 $7,640 Total $45,480 $49,122 $46,820 10

11 APPENDIX Location Maps (PID) Legal Description Agreement of Purchase and Sale Schedule A 11

12 LOCATION MAPS 2165 Gottingen Street PID: Maitland Street PID:

13 LEGAL DESCRIPTION 2165 Gottingen Street All that certain other piece of parcel of land in the north suburbs of the City of Halifax marked and numbered as lot number 11 and abutted and bounded as follows, viz: FRONTING westerly on Gottingen Street, so called, and here measuring 40 feet; ON THE NORTH by lot number 12 and measuring thereon 100 feet; ON THE EAST by part of lot number 7 and 8 and measuring thereon 40 feet, and; ON THE SOUTH by lot number 10 and measuring 100 feet, The above described lot of land being 100 feet in depth and 40 feet width, more or less, and being the same lands which were conveyed to one Charles E. Choat and John A. Hancock and wife by Deed dated the 2 day of January, 1905 and recorded in the Registry of Deeds for the Country of Halifax, in Book 378, Page 164. *** Municipal Government Act, Part IX Compliance *** Compliance: The parcel originates with instrument (registration details below) and the subdivision is validated by Section 291 of the Municipal Government Act. Registration District: HALIFAX COUNTY Registration Year: 1939 Book: 790 Page: 617 Document Number:

14 2230 Maitland Street All that lot of land being the same which was conveyed to John Lintlop by Samuel Cunard and John Smith by Deed dated the 22 day of April, 1830 recorded in the Registry of Deeds at Halifax in Book 53, Page 446 marked on the plan referred to in said Deed number 7 as is described as follows, viz: FRONTING on Maitland Street (so called) and measuring thereon 30 feet; ON THE NORTH by lot number 8 the property of John Taylor and there measuring 102 feet; ON THE WEST by parts of lots number 10 and 11, and there measuring 30 feet and; ON THE SOUTH by lot number 6 and there measuring 102 feet; SAVING AND EXCEPTING out of the above described lands the lands contained in a Deed from Samuel Rubin and Ethel Rubin to Robert Cullen in a deed recorded in Book 590 at Page 49 and that portion thereof described as follows: COMMENCING on the eastern line of lands now or formerly owned by Robert J.M. Cullen and at the south western angle of said Lot Number 7; THENCE easterly along the southern boundary of said lot 2 feet; THENCE northerly parallel to the western boundary of said lot 10 feet; THENCE westerly parallel to the first described course 2 feet to the western boundary of said lot number 7; THENCE southerly along the said western boundary 10 feet to the place of commencement; SUBJECT HOWEVER to the right of way granted by Samuel Rubin et ux to the said Robert J.M. Cullen, his heirs and assigns, by Deed dated on or about the 5 day of June, 1925, and recorded in the Registry of Deeds at Halifax in Book 590, Page 49, over a strop comprising the southerly 10 feet of the above described land. *** Municipal Government Act, Part IV Compliance *** Compliance: The parcel originates with an instrument (registration details below) and the subdivision is validated by Section 291 of the Municipal Government Act. Registration District: HALIFAX COUNTY Registration Year: 1939 Book: 790 Page: 617 Document Number:

15 AGREEMENT OF PURCHASE AND SALE THIS AGREEMENT OF PURCHASE AND SALE made this day of, 2017 BETWEEN: (Hereinafter Called the "Buyer") -and- NORTH END COMMUNITY HEALTH ASSOCIATION (Hereinafter Called the "Seller") The Buyer hereby agrees to purchase from the Seller and the Seller hereby agrees to sell to the Buyer the properties known as, 2165 Gottingen Street, Halifax, NS; PID # , 2230 Maitland Street, Halifax, NS; PID # , (the "Property") as identified in the Nova Scotia Land Database, upon the following terms and conditions: 1. PURCHASE PRICE The Purchase Price shall be the sum of ($ ) payable as follows: (a) (b) The sum of five thousand dollars made payable to McInnes Cooper in trust as a deposit to be held in trust pending completion or other termination of this Agreement to be credited on account of the Purchase Price and payable by bank draft or certified cheque within two business days of execution of the Agreement (the "Deposit"). If the Deposit is not delivered as specified, the Seller shall be at liberty to declare this Agreement null and void; The balance subject to adjustments as set out in this Agreement by Solicitor's trust cheque to the Seller's Solicitor upon closing (as set out herein). 2. CLOSING DATE Subject to the terms and conditions herein and subject to the existing tenancies, this transaction shall be completed on or before July 1, 2017 as agreed to between the parties (hereinafter called the "Closing Date") 3. SELLER'S DELIVERIES Within five (5) business days of the execution of this Agreement, the Seller shall provide, if completed, the Buyer with the following: (a) Three years property expenses 15

16 4. CONDITIONS OF THE BUYER 5. TITLE 6. HST The Buyer shall have until May 1, 2017 (the "Due Diligence Date") to be satisfied with all investigations whether it is title, structural or environmental and to arrange for financing the property. This condition is for the sole benefit of the Buyer and may be waived by it in whole or in part. Unless the Buyer or its solicitor notifies the Seller or its agent in writing to the contrary on or before the Due Diligence Date, the Buyer shall be deemed to be satisfied with the results of all of its investigations and financing arrangements, and, subject only to any material change in the condition of the building located on the Property prior to the Closing Date, the Buyer shall be required to complete the transaction on the Closing Date with no abatement of the Purchase Price and in accordance with the terms hereof. If the Buyer provides written notice to the Seller or Seller's solicitor on or before the Due Diligence Date that it is not so satisfied then, at the sole option of the Buyer, this Agreement may be terminated and the deposit shall be returned to the Buyer without interest, and subject to the Buyer's indemnity with respect to damage contained herein, the parties shall have no further liability to each other. The title to the Property is to be good and marketable free from all encumbrances save and except for registered restrictions and / or covenants that do not materially affect the enjoyment of the property and shall be migrated by the Seller at the Seller's sole cost and expense prior to Closing. The Buyer shall be liable for, and shall pay (or in the alternative deliver certificates in lieu thereof) either to the Seller on the Closing date or directly to the governmental authority, as required, all federal and provincial sales taxes, duties or other like charges properly payable upon and in connection with the conveyance and transfer of the Property by the Seller to the Buyer. Without limitation, the Buyer acknowledges that the within transaction is taxable under Part IX of the Excise Tax Act (Canada) and covenants to: (a) (b) Pay all Harmonized Sales Tax (HST) imposed under the Excise Tax Act on the Closing Date; or In the event the Buyer intends to file returns, self-remit the HST to the Government when and to the extent required by the Excise Tax Act and to rely on the HST exception contained in Section 221(2) of the Excise Tax Act, then the Buyer shall execute and deliver a statutory declaration, certificate and undertaking to complete the forgoing, in form and content satisfactory to the Seller and its solicitors, which statutory declaration shall include the HST registration number of the Buyer. The Buyer shall indemnify and save harmless the Seller from all costs, expenses or damages incurred or suffered by the Seller as a result of the failure by the Buyer to pay any and all HST or other taxes related to the within transaction. 16

17 7. ADJUSTMENTS Interest, rentals, security deposits, insurance premiums, fuel, taxes, rates and assessments are to be adjusted to the date of closing. The cost of municipal improvements, (including but without limiting the generality of the phrase "municipal improvements", betterment charges and capital charges for utility or municipal services) completed as of the date of this Agreement, whether billed or not, are to be adjusted on a pro rata basis on the Closing Date. 8. CLOSING ARRANGEMENTS On the Closing Date, the Seller shall deliver to the Buyer: (a) A duly executed Warranty Deed conveying the Property subject to the existing tenancies free from encumbrances except any easements, registered restrictions or covenants that do not normally affect the use and enjoyment of the Property; (b) (c) (d) (e) Direction and Authorization to Pay; All keys for the building on the Property in the possession of the Seller labelled as to their use; Confirmation by the Seller that there is no leased equipment or fixtures in the Property; Such other documentation as the Buyer may reasonably require. The Buyer shall provide to the Seller: (a) The balance of the Purchase Price by bank draft or Solicitor's trust cheque subject to adjustments; (b) Such other documentation as the Seller may reasonably require. 9. INSURANCE All buildings and equipment upon the real property shall be and remain at the risk of the Seller until closing. Pending completion of the sale, the Seller will hold all insurance policies and the proceeds thereof in trust for the parties as their interest may appear and in event of damage to the said premises, the Buyer may either have the proceeds of the insurance and complete the purchase or may cancel the Agreement and have all moneys theretofore paid returned without interest. 10. CONFIDENTIALITY Except as may be reasonably required in support of mortgage financing applications, the Buyer will keep in strict confidence all information obtained with respect to the Property. The Buyer agrees to instruct its agents, advisors and consultants to comply with the provisions of this section. If this transaction is not completed for any reason, the Buyer shall properly deliver to the Seller all documents, information and materials as requested by the Buyer. 17

18 11. GENERAL (a) (b) (c) (d) The Seller and Buyer acknowledge that SixEight Realty Group is representing the Seller in this transaction. Upon acceptance of the offer by the Seller, the Buyer agrees to provide identification information to comply with the Federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). The information obtained will remain on file and is strictly confidential. Under law, it will be provided only as required to authorities of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It is understood that if the Buyer does not complete this Agreement in accordance with the terms thereof, it shall forfeit the Deposit(s) for its failure to so complete in addition to any other claim which the Seller may have against the Buyer for his or her failure to so complete. This Agreement shall be governed in accordance with the laws of the Province of Nova Scotia. (e) (f) (g) Time shall in all respects be of the essence in the Agreement. This Agreement shall ensure to the benefit of and be binding upon the parties hereto, their respective heirs, executors, administrators, successors and assigns. This Agreement is to be read with all changes of gender or number required of the context. 18

19 12. CONDITION PRECEDENT This Agreement is subject to Schedule A attached. DATED at, Nova Scotia, this day of, This offer to purchase will remain open until 3:00 PM AST on the day of, Witness Witness Per: Per: The Seller accepts the above Terms and Conditions: NORTH END COMMUNITY HEALTH ASSOCIATION Witness Witness Per: Per: Solicitor for the Seller: McInnes Cooper Solicitor for the Buyer: Phone Phone 19

20 SCHEDULE A The North End Community Health Centre, NECHC, wishes to dispose of its current location at 2165 Gottingen St, Halifax by sale of the property. The property includes; 2165 Gottingen St, Halifax, NS (PID # ) and 2230 Maitland St, Halifax, NS (PID # ). Proceeds from the sale of the property will be used to support the Centre s pending relocation to 2132 Gottingen St and its long term commitment to the community it serves. Potential Buyers may submit a BID for the purchase of the property; - Until Wednesday, March 1, 2017 at 1:00pm at the office of: Six Eight Realty Group, 1341 Birmingham St. Halifax, NS, B3J 2J3 - All Bids received will be sealed and will not be reviewed until after the big date above. - No offers or negotiations related to bids will occur prior to big date of 1pm, March 1, Bids submitted will be viewed on March 2, 2017 by the Finance committee of NECHC. - Any negotiations with potential buyers will commence on or after March 2, Any agreement reached between a potential buyer and the Finance committee of NECHC must be approved by the NECHC board of directors. The bid must include: 1. A purchase and sale agreement 2. A minimum deposit of $5, Disclosure of the beneficial owner 4. A brief, maximum 1-page outline of the intended use for the property. 5. Amount of time requested to conduct due diligence 6. Description of what, and if any requirements are necessary for financing of the purchase. 7. Requested closing date. NECHC may provide preference to bids with: 1. A description of the intended use of the site that will provide sustainable benefits to the community. 2. Confirmation of financing discussing at the time of the bid is submitted. 3. A period of due diligence to be completed within 30 days of an accepted bid. 4. Potential buyers confirming they will cover the complete costs of the due diligence deemed necessary by the buyer to waive all conditions. 5. A closing date that is on or before July 1, 2017 Prior to submitting a bid, potential buyers may request: - 3 years of property operating expenses - Site visit and opportunity for inspection of the property. All inquiries regarding the property should be directed to: Mr. Carlisle Norwood, Six Eight Realty Group, Tel: (902) , cnorwood@sixeight.ca 20

21 Buyers should note that the Seller is under no obligation to respond to or accept any proposal for the Property. The Seller reserves the right to remove the Property from the market at its discretion. The Property and all fixtures included with the Property are to be purchased on a AS IS, WHERE IS basis and there is no warranty, expressed or implied, as to the title, description, condition, cost, size, fitness for purchase, quantity of quality thereof. All Bids must be signed and submitted by hard copy on or before: Wednesday, March 1, 2017 at 1:00pm. At the office of Six Eight Realty Group, 1341 Birmingham St. Halifax, NS, B3J 2J3 Attention: Mr. Carlisle Norwood / Mr. Tim Margolian The NECHC will not accept bids received electronically or by fax or bids received after the bid date deadline. 21

22 For further questions, please contact: TIM MARGOLIAN (902) CARLISLE NORWOOD (902)