Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Automotive Properties Real Estate Investment Trust T.APR.UN

Alternate Symbol(s):  APPTF

Automotive Properties Real Estate Investment Trust (the REIT) is a Canada-based open-ended real estate investment trust. The REIT is focused on owning and acquiring primarily income-producing automotive dealership properties located in Canada. The REIT's portfolio consists of 77 income-producing commercial properties, representing approximately 2.9 million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. The REIT is focused on consolidating automotive dealership real estate properties. Its properties include Porsche Centre Vancouver, Audi Sales Downtown Vancouver, Calgary BMW, Calgary Honda, Regina Honda, Dilawri Nissan Infiniti, Regina Hyundai, Tesla Edmonton, Go Mazda, Porsche Centre and Jaguar Land Rover Edmonton, McNaught Cadillac Buick GMC, St. James Volkswagen, Tesla KW, Guelph Hyundai, Wellington Motors, Agincourt Mazda, Markham Honda and Ford, Elite BMW Service and others.


TSX:APR.UN - Post by User

Post by undervalueon Jul 16, 2024 4:57pm
187 Views
Post# 36135588

Redevelopment.

Redevelopment.
Open this photo in gallery:

An Audi dealership in the GTA’s Richmond Hill, currently occupied by several low-rise shops along Yonge Street will have about 55,000 square feet of dealership and 300,000 square feet of residential in 370 units. The green roof of the dealership will be used as an outdoor amenity of the building.BDP QUADRANGLE

The plan for a new Audi dealership in Toronto’s suburban Richmond Hill upends the classic concept of car lot. Rather than sprawling rows of shiny new models, preowned vehicles and service bays along the highway, this dealership will be in a corner of a twin-tower residential complex. The showroom will share a green roof with the residences and its service department will be on the fourth level of underground parking.

It’s part of a rapidly growing trend to rethink dealerships that typically covered big parcels of land, says Stefanie Siu-Chong, principal at architecture firm BDP Quadrangle. “Urban land is being priced out of reach and online shopping makes it less important to have a whole inventory on hand.”

Dealerships are investing in new, more attractive showrooms to entice buyers in to kick the tires and make a deal as car shopping online becomes more convenient, Ms. Siu-Chong says. In 2022, 15 per cent of new car purchases in Canada were made online, up from 12.0 per cent in 2021, according to data from goodcarbadcar.net.

But overall sales are growing. A TD Canadian Automotive Outlook report in May projects vehicle sales in Canada will grow by 9.6 per cent in 2024 – reaching 1.9 million units. Moderation is expected through the year as the economy slows and the postpandemic bounceback recedes, but the study anticipates that sales will return to the prepandemic levels of around two million in 2025 as interest rates are expected to be lowered.

Meanwhile, off-site inventory storage saves money and frees up space. “The more you can find mixed uses for the land, the more successful a dealership project will be,” she advises.

BDP is designing the complex for Dilawri Group of Companies, Canada’s largest auto group, with 82 franchised dealerships. The Richmond Hill site is currently occupied by several low-rise shops along Yonge Street, surrounded by parking lots. “We’ll have about 55,000 square feet of dealership and 300,000 square feet of residential in 370 units. The buildings are connected, and we are using the green roof of the dealership as the outdoor amenity of the building.”

The more you can find mixed uses for the land, the more successful a dealership project will be.

— Stefanie Siu-Chong, principal, BDP Quadrangle

Another notable example of intensification of uses is Downtown AutoGroup’s Autoplex in Toronto, a mixed-use development on five acres of land along the Don Valley, south of Queen Street. The new complex of the group founded by Shahin Alizadeh, president and chief executive officer, hosts 10 auto sales and service facilities representing 12 brands, including Toyota, Ford/Lincoln, Hyundai/Genesis, Nissan/Infiniti and Chrysler, Jeep, RAM and Dodge, in connected buildings and has a 120,000-square-foot warehouse off site to house inventory.

The Autoplex is part of the new Riverside Square district, with the dealerships anchoring a mixed-use development, which includes 900 new residential units, as well as street-level retail shops and public space. Parking and service facilities are located below-grade.

Open this photo in gallery:

<< Previous
Bullboard Posts
Next >>