[cdr108]

There was a recent report by cbre or the like citing it was one of the only strips in Toronto to see rents decrease the last while, I'll try to find it ... that makes sense though.

Its facing something similar to Robson street in Vancouver which has also seen rental rates fall for essentially the exact same reason.

QW's success started to price itself too high and the result is higher vacancies and turnovers

 

[neubilder]

There was a recent report by cbre or the like citing it was one of the only strips in Toronto to see rents decrease the last while, I'll try to find it ... that makes sense though.

Its facing something similar to Robson street in Vancouver which has also seen rental rates fall for essentially the exact same reason.

Interesting. and not surprising. With the encroachment of developments like the Bohemian Embassy and Liberty Village the character of Queen West is being lost. The corner defined by Sudbury, Dovercourt, and Queen has seen the demolition of 2 excellent turn of the century warehouses which are being replaced by massive generic condo towers that kill street life. Across the tracks is even worse.

 

[cassius]

I've been living in the area for the past 4 or 5 years. The turnover rate of businesses between Spadina and Trinity-Bellwoods Park is a little concerning. Seems there's a lot of businesses being priced out of the local market, which is too bad. But new places coming in is also a good thing, and I definitely look forward to this redevelopment. I have always felt like the building has potential, but up to now it's a building that breaks the flow of that stretch. A completely forgettable 20-metre dead zone.

 

[artyboy123]

Taken from Insolvency Insider!

"761 Queen Street West, Toronto, Ontario, real property owned by R & B Properties (2011) Inc., was placed into receivership on January 13, on application by Portage Capital Nominee Corp. The receivership order was made after a default that dates back to at least October 2023, followed by more than two years of unsuccessful forbearance, mounting property tax arrears, and the loss of two major tenants, leaving the asset operating as a “melting ice cube”. KSV was appointed receiver. Counsel is Blakes for Portage Capital, Stikeman Elliott for the receiver, and Glaholt Bowles for the company"