Real Estate For Veterinarians

Land Assembly Sellers

Market Information for Selling a Land Assembly

Land is a finite commodity – and you have to ask yourself this question: Is the land under your home or building, more valuable than the property itself? Some landlords have heard stories of sellers achieving large price lifts and profits on their properties that equate to 50%, double or even triple the value of the property as the current home, apartment building or mixed use building. Sellers might have been approached by a REALTOR® and told about a land assembly, or they might have heard about it at a strata meeting. Potentially the Official Community Plan (OCP) or Neighbourhood Concept Plan (NCP) in your community was amended or changed. The general mentality might be to hold out – but this might mean you hold out too long and miss the organization of lands around you where the profits for your property are then lost. Realize that there is misinformation that exists and getting the right advice from the start of the process will help you make the right decision.

Land Assembly Sellers

How do I know what price I should accept for my property?

Selling property requires the right mix of good preparation and the right number of lots to maximize value. That’s why we complete a full proforma valuation of the property (and many variations of “highest and best use” - this identifies the types and styles of buildings and number of units for ideal outcomes that maximize property values) when considering development alternatives of highest value. Owners need to be informed about the process – it must be then vetted against several scenarios, which are as follows:

  • What number of parcels will maximize the value of my land?
  • Are there any density bonuses that are available?
  • How do the CACs, DCCs, and bonus density costs, charged by the municipality negatively affect my land value? Are there current incentives being offered? Are there any on the horizon being talked about? What are the financial impacts of these incentives?
  • What is the demand for development properties like this?
  • What are the recent sales that would compare to this opportunity?

Our process ensures that owners will be both represented and independent in their decisions and will make their decision based on well-vetted information and details. Aligning expectations and understanding the land development process is a large part of the work we do with our Sellers. Based on past experience, each owner will then have a strong level of comfort in assessing the final valuation of their property.

Land Assembly Sellers

Other things to consider:

  • Have you upgraded your unit recently? Do I then get more than my neighbor?
  • What are the 5 factors you should consider in the valuation of my property?
  • Does my property have any unique attributes, like access to common space or cathedral ceilings that would make it sell for a higher price in the market?
  • Have there been fewer transactions on my floor, or in my neighborhood, that have caused my assessed value to be lower than I would expect? Does this have any impact on my property’s ultimate value?

Veterinarians

At Klein Group, Royal LePage Commercial, we work with veterinarians to allow them to grow and expand their veterinary practice without worrying about real estate. This allows you as a business owner to focus on your business completely.

Our veterinary real estate services cover a wide range of commercial transactions from small animal clinics to large animal facilities. We understand that commercial real estate is one of the highest expenses for a veterinary practice, so you can trust our veterinary real estate experts to meet your real estate needs.

If you’re looking to open or expand your veterinary clinic, contact us today for more information as to how Klein Group, Royal LePage Commercial can help.

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