Toronto’s Retail Condo Shops

With the increase in residential sales in Toronto, commercial brokers are also seeing a stronger demand for retail condos as investors consider this type of property a safer bet. According to Eric Anton, Executive Managing Director of Eastern Consolidated, “It’s sort of a flight to quality right now. As it’s difficult to get financing and deals done in a downward market right now, people are not comfortable being pioneers, and retail condos are safe real estate and a safe investment, especially with good locations in the city.”* In other words the key to purchasing a retail condo, not leasing, is the location. With Toronto being the New York City of Canada, investors can’t go wrong.

Currently builders in Toronto have started to offer a commercial component to the residential buildings they are developing. “The differential in value between the retail and office components of a building has gotten so large that it makes sense to look at selling the retail separately,”* said White, of Real Capital Analytics. This is precisely what Aura at College Park in Toronto Canada has done with their residential building.
In Toronto, Canada there are no opportunities to own a condo retail shop in the heart of the city. Aura, which will be Canada’s tallest residential condominium will attract an impressive line-up of well known retailers and service providers who in turn will make Aura, a downtown destination for sophisticated shoppers. Located on the subway level, The Retail Shops at Aura offer prime retail space which can serve as a store or restaurant of your choice. Having sold some of these shops at only $164,500, these are ideal for the safe minded investor.
As noted by Dan Fasulo, Managing Director of Real Capital Analytics, “Selling these desirable spaces helps investors recoup funds in the slow market. The rate of retail condo trades remain brisk, giving investors some hope in the current economy. Since there will not be much more new development on Yonge street, these retail condos in Toronto, Canada is the last true opportunity to own retail space in the city. Foreign investors couldn’t agree more as they are showing considerable interest in retail condos. If a retail spot is in a world-renowned location, it’s an easy sell back home” * Fasulo noted. “The foreign investors are very taken by the retail condo investment niche,”* he said. “It’s the trophy nature of the property asset. Everyone can relate to a retail property on Fifth Avenue.”*
In the case of Aura at College Park, it is the trophy of owning retail property at the Yonge Street address. The retail condo level at Aura is expected to experience traffic of approximately 30,000 (!) people daily. With the direct access to the subway system and a future connection to the PATH system, the location will be sure to generate traffic guaranteeing your investment to give you a strong return.

For more information on this amazing opportunity, click on Aura Condo.

*” Getting in on the ground floor”, Kerri Linden. “The Real Deal in New York Real Estate News”