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557-563 King West - possible assembly.

Northern Light

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This is the location of the For Your Eyes Only Strip Club.

The owners have confirmed, from the BlogTO story below, that they have sold the property and the club will not be reopening.

As it is very unlikely they sold for a price that would be in-line w/its current use, it seems likely this is being purchased for development.


The site itself is 4 storefronts in length and occupies 557-563 King Street.

It's not very large in its own right, at ~ 500m2/5000ft2

It's also tightly packed against other properties.

Current Appearance here:

1596750871277.png


Current Interior via BlogTO:

1596750925424.png


This building and all those to its west for several properties are listed in the City's Heritage register and have current or potential exterior character.

None are designated.

Certainly nothing in the building's interior suggests historical preservation potential to me.

1596751066357.png


The orange is indicative of a Heritage Conservation District, currently under appeal.

It is likely this property and any to its west, jointly assembled would be required to preserve/restore facades.

The property immediately to the east, with a private lane in between is not listed, and offers a much deeper lot.

We shall see what comes of this.
 
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innsertnamehere

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Another strip club bites the dust.

anyone want to make a bet on how long until there are no strip clubs left in the core?
 

AlbertC

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With the development boom along King West continuing in full swing, this one was inevitable. Although I wonder if the pandemic may have sped up its timeline. I've always felt FYEO would be the next to go along this stretch, as well as the leather place to the east someday.

I could see the Brass Rail being assembled with its neighbouring properties sometime in this decade or next for a large development. While I wouldn't be surprised to see something materialize for a mid-block assembly involving Zanzibar later in the future. Perhaps after several higher profile projects in the Yonge & Gerrard vicinity get completed.
 

cd concept

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Looks like the density for this package of land could handle a skyscraper. But it will probably be a midrise or a highrise instead because of its location.
 

CityStay

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Can't wait until this becomes yet another condo podium with empty for 5 years retail!
I only hope that the 19th century Heritage Hydro Poles will be preserved!
(they will be, Toronto is serious about Heritage Conservation)
 

WislaHD

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I could see the Brass Rail being assembled with its neighbouring properties sometime in this decade or next for a large development. While I wouldn't be surprised to see something materialize for a mid-block assembly involving Zanzibar later in the future. Perhaps after several higher profile projects in the Yonge & Gerrard vicinity get completed.
Zanzibar probably missed its chance with the YSL assembly. It might be the only establishment of its sort left in the downtown core as a consequence (rather interesting position to be in from a business perspective perhaps?).

I suppose if the market evolves, Zanzibar could be the site of a super-thin, super-tall, ala the craze in NYC in recent years.
 

Towered

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This is the location of the For Your Eyes Only Strip Club.

The owners have confirmed, from the BlogTO story below, that they have sold the property and the club will not be reopening.

As it is very unlikely they sold for a price that would be in-line w/its current use, it seems likely this is being purchased for development.


The site itself is 4 storefronts in length and occupies 557-563 King Street.

It's not very large in its own right, at ~ 500m2/5000ft2

It's also tightly packed against other properties.

Current Appearance here:

View attachment 261858

Current Interior via BlogTO:

View attachment 261859

This building and all those to its west for several properties are listed in the City's Heritage register and have current or potential exterior character.

None are designated.

Certainly nothing in the building's interior suggests historical preservation potential to me.

View attachment 261860

The orange is indicative of a Heritage Conservation District, currently under appeal.

It is likely this property and any to its west, jointly assembled would be required to preserve/restore facades.

The property immediately to the east, with a private lane in between is not listed, and offers a much deeper lot.

We shall see what comes of this.

That interior is fantastic - it's like PoMo puked all over Art Deco.

It'd be an amazing live music venue as is.
 

Northern Light

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This is going back into the For Lease pile for now. CBRE leasing signage now posted outside the former FYEO property.

Not a surprise, no matter the plans, with no application on the table, it's likely a minimum of 2.5 years to any construction and could easily be double that.

This is prime retail space and might be able to command a decent number.

The only drawbacks will be that the lease will either be short/have tight early termination clauses, and that most businesses would want to put storefront windows back in, and need to carry out a certain amount of restoration of the interior to pay a decent dollar.

But it might be worth it to the owner to take a modest hit on rent to have the property well cared for in the interim.
 

CityStay

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Not a surprise, no matter the plans, with no application on the table, it's likely a minimum of 2.5 years to any construction and could easily be double that.

This is prime retail space and might be able to command a decent number.
The only drawbacks will be that the lease will either be short/have tight early termination clauses, and that most businesses would want to put storefront windows back in, and need to carry out a certain amount of restoration of the interior to pay a decent dollar.

But it might be worth it to the owner to take a modest hit on rent to have the property well cared for in the interim.
I'm sure that the global hedge fund who remotely and relentlessly lobbied City Hall will make good on their promise and install a Starbucks and Shoppers.. and an art 'thingy'. Don't forget the value of the art thingys and pocket parks lol!
 

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