A luxury yacht marina along the shores of the Inner Harbour has been listed for sale three years following its completion in Victoria’s Vic West neighbourhood.

 

 

The 28-slip Victoria International Marina (VIM), which got underway in 2016 with a construction budget of $24 million, opened in 2018 as the first dedicated superyacht moorage on North America’s west coast and operates as one of only a handful of such facilities in the world.

 

Presented for sale by the Victoria-based offices of global commercial real-estate brokerage CBRE, the listing is un-priced pending solicitations from what are anticipated to be well-capitalized investment and real-estate firms with a long-term vision for a one-of-a-kind acquisition opportunity.

 

“The Victoria International Marina is unparalleled in its quality, its location, and its role in the burgeoning luxury yachting industry,” said listing agent Chris Rust, Senior Vice President, Investment Properties Group - Victoria. “The barrier to entry for this kind of facility is very high given the complexities involved in executing such a project, which makes this listing extremely unique and an inter-generational investment unlike any other.”

 

Included in the sale are two award-winning, state-of-the-art ancillary buildings at the east and west ends of the marina, one of which is home to the Boom & Batten restaurant perched over the Inner Harbour, and the other a luxury multi-purpose waterfront complex containing services for staff, spacious quarters for yacht guests and crew, changing and laundry facilities, a play room for children, a gym and event space.

 

VIM’s concrete slips can accommodate vessels between 64 and 175 feet in length, with approximately one-third of berths available on 40-year lease terms to yacht owners seeking long-term moorage. There is also potential for expanding the moorage to accommodate additional boats. High-end security features, full services to each dock, a variety of electrical connections, and a fire suppression system round out the world-class status of the landing.

 

Parking is in the form of two secure underground garages with capacity for 48 vehicles within two condominiums standing between Paul Kane Place and Cooperage Place. The lease remains in place through 2190.

 

Rust says another unique aspect to the marina, which will resonate with would-be purchasers, is the fee-simple nature of the buildings in lieu of water leases that are common with oceanside construction.

 

“Both buildings extend over the harbour itself, but are considered fee-simple properties, and that is quite beneficial from a long-term investment consideration.”

 

To view the listing details, click here to download the information package (in PDF format). C

 

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