New High-End Suites

High end suites are usually rare in Vancouver, but recently in Coal Harbour several came along at the same time that we were pleased to be able to lease up. Downtown Suites now manages an additional three luxury suites in the new Bayshore, each leasing in excess of $3000 per month. We were also pleased to represent another in the Shaw Tower. This new suite has the monthly rate of $4800.
The luxury suite market is exclusive, with only so many available at the high end at $5,000 per month at the top of a building, diminishing to the street level at just over $1000.
The market is also exclusive in tenants for these suites, and we endeavour to find the best tenants possible for them. As we specialize in Coal Harbour and Downtown (including Concord sites), we are able to find appropriate tenants. Most of our clientele are CEOs, diplomats, consulates and local personalities.
Interestingly, we have found that the new suites command the highest rental value, particularly in Coal Harbour. Anything over two years old now is not in as strong a position to draw the highest rental fees. There won’t be as many new luxury suites coming along at once until Harbour Green 3 is ready to go.