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Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
Rentable Value Appraisals Of Langley Regional Airport
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Rentable Value Appraisals Of Langley Regional Airport

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Presentation to Langley Township Council by Dave Kirk regarding rental rates at Langley Regional Airport April 6, 2009.

Presentation to Langley Township Council by Dave Kirk regarding rental rates at Langley Regional Airport April 6, 2009.

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  • 1. Rentable Value Appraisal of Langley Regional Airport Cunningham & Rivard Appraisals (Nanaimo) Ltd. 70 Prideaux Street, Nanaimo
  • 2. Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 3. Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 4. DISTANCE CHART Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 5. Industrial Land Value Airport Lease Rate Comparison Table Cunningham & Rivard Appraisals (Nanaimo) Ltd. Location Industrial Land Value per acre Airport Land Rent Rate per square foot Langley 1,000,000 $0.28 Victoria 1,000,000 $0.43 Kelowna 750,000 $0.31 Chilliwack 600,000 $0.25 Nanaimo 500,000 $0.17 Campbell River 200,000 $0.17 Average industrial land values and airport land rental rates
  • 6. Overview
    • The aviation industry acts independently of other industries
      • Aviation lands are not industrial lands
      • Aviation lands have established themselves within their own land use category
    Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 7. Overview
    • Land lease rates are driven by supply/demand factors critical to the aviation industry as follows:-
      • Proximity to large urban areas
      • Proximity to surrounding aviation service market
      • Availability of airfield lands
      • Capability/capacity of facilities
    • Langley is exceptionally well positioned (location) to capitalize on growth of non-fixed wing aviation industries
    Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 8. Cunningham & Rivard Appraisals (Nanaimo) Ltd.
  • 9. Rate of Return Lease Rate Comparison Table Cunningham & Rivard Appraisals (Nanaimo) Ltd. Location Existing Land Rent Rate per sq ft 2009 Rate of Return Rent 1999 Rate of Return Rent Langley $0.28 $1.37 $0.34 Victoria $0.43 $1.37 $0.34 Kelowna $0.31 $1.03 $0.26 Chilliwack $0.25 $0.83 $0.21 Nanaimo $0.17 $0.69 $0.17 Campbell River $0.17 $0.28 $0.07 The existing land rent rates are established by the open (free) aviation industry land rental market.   The rate of return rents are calculated at 6% of average industrial land values at 2009 and 1999.

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