The Victoria Building

Overview

Opportunity to acquire a trophy asset in the heart of Kamloops, featuring strong cash flow and significant infill redevelopment potential. The Victoria Building is a 10-storey + basement concrete office tower prominently situated at the corner of Victoria Street and 2nd Avenue.

Built in 1974, the building comprises 52,055 square feet of office and retail space and boasts a strong tenant roster anchored by Federal and Provincial government offices, Stantec, and the Bank of Montreal. This professionally managed and well-maintained property has benefited from recent capital upgrades, including modernized elevators and HVAC systems, newer boilers, as well as a refreshed lobby. Additional features include a full basement with leased storage units and 44 surface parking stalls.

Two adjacent lots at 207 & 213 Lansdowne—currently used as surface parking—offer substantial future infill development potential. These two legal parcels total 12,268 square feet and provide excellent corner exposure on 2nd Avenue and Lansdowne Street. The property is zoned CBD (Central Business District) and designated City Centre under the Kamloops Official Community Plan. The zoning permits high-density mixed-use development, including commercial, hotel, or multi-unit residential uses, with a base Floor Area Ratio (FAR) of 4.0 that can be increased to 8.0 FAR through bonus incentives.

Buyers will have the option to purchase shares of the company holding title to save on Property Transfer Tax (PTT).

Location

The property occupies a strategic position on Victoria Street, the primary commercial corridor in downtown Kamloops. Victoria Street forms the city’s main retail and business district, hosting established financial institutions, professional services, restaurants, and specialty retail. The location enjoys excellent visibility and strong pedestrian traffic, with Kamloops City Hall, Lansdowne Village shopping centre, numerous hotels, and the expansive Riverside Park all within easy walking distance.

The site is conveniently close to major institutions, including Royal Inland Hospital and Thompson Rivers University (whose main campus lies southwest of downtown). Downtown Kamloops is well served by public transit, with the city’s main transit exchange located nearby. Situated at the confluence of the North and South Thompson Rivers, the area combines scenic appeal with strategic access to regional transportation corridors.