Toronto 100 Queens Quay at Sugar Wharf | 117.34m | 25s | Menkes | B+H

[themarc]

To be sold off for redevelopment by Government:

http://www.thestar.com/news/canada/...o-to-sell-downtown-lcbo-warehouse-and-hq?bn=1

 

[AlvinofDiaspar]

That's excellent news - that building is one of the stumbling blocks for revitalizing the stretch between Yonge and Jarvis. Between that and the reorganization of the Toronto Star site there is some serious potential for movement on that front.

AoD

 

[themarc]

Its a massive site - nearly 30,000 sq meters.

 

[Northern Light]

My first thought, how many office workers?

Suppose the LCBO relocated the office functions elsewhere in downtown as lead tenant in a major office tower?

Second part, would this mean also divesting the warehouse?

If so, I wonder where they would move that to?

Might make a good development in an under-utlized industrial area.

 

[pw20]

They have 3500 full time staff - the majority of whom probably aren't "head office" workers.

It would look INSANELY horrible for a crown corporation which many think should be sold off to be part of an "expensive" new and fancy HQ. Just think about the $hitstorm that erupted over the proposed new TTC HQ.

That being said - I'd be surprised if you're talking more thatn 300 HQ workers - which would be under way below "lead tenant" status of any major office development (unless you're talking something like King West...)

I think you'd estimate between 150-300 square foot per employee.

 

[Northern Light]

As per the above

Do you think its that low? Don't they currently have a good six floors where they are?

****

I wonder if this would include the store site as well, I assume it would if they are suggesting Queen's Quay frontage.

That is one very large LCBO that would be in need of relocation.

 

[Automation Gallery]

They have 3500 full time staff - the majority of whom probably aren't "head office" workers.

It would look INSANELY horrible for a crown corporation which many think should be sold off to be part of an "expensive" new and fancy HQ. Just think about the $hitstorm that erupted over the proposed new TTC HQ.

That being said - I'd be surprised if you're talking more thatn 300 HQ workers - which would be under way below "lead tenant" status of any major office development (unless you're talking something like King West...)

They can always move into the future proposed government run 880 Bay St. office development

 

[Northern Light]

Whoa.....

From the Globe and Mail Article on this.......

"He did say the province will sell the LCBO's headquarters property, a move expected to generate $200 million."

He is Dwight Duncan btw....

At 200M the development on that site would have to be eye-popping in its density.

 

[AlvinofDiaspar]

Recall the Ten York site netted 40M - maybe the LCBO site is 5x the size?

AoD

 

[urbandreamer]

Ha the LCBO could always lease space in the new Globe and Mail HQ--that way the writers wouldn't have far to go to get a bit of inspiration...

 

[Automation Gallery]

Hahaha..i wasnt to far off when i posted this last week.

On that last pic, i get the feeling that those LLBO buildings are pretty well history with future facadism.

 

[AlvinofDiaspar]

I highly doubt that there is much merit for facadism in this case.

AoD

 

[Xray_Crystal_Junkie]

I pray they break this into several small plots instead of selling the whole thing as one. No more huge block developments down there please! I feel as though they'd net more $$ that way as well.

 

[themarc]

Hahaha..i wasnt to far off when i posted this last week.

Does their site include the parking lot to the east? If so then it is an unprecedented block of downtown real estate.

 

[Hypnotoad]

Does their site include the parking lot to the east? If so then it is an unprecedented block of downtown real estate.

I'm not sure.