DESCRIPTION

ASSIGNMENT: SUB-PENTHOUSE CORNER STUDIO UNIT: A FANTASTIC INVESTMENT, a PIED A TERRE OR FOR FIRST TIME HOME BUYERS:
only 15% down until completion estimated December 2007.

The Gateway - is a 62 unit, 4 storey reinforced concrete residential building and is Phase 4 of 9 in the WATERFRONT MASTER-PLANNED Community called 'the Railyards'.

The Railyards is developed by Le Fevre & Company with a proven track record and architecture design by award winning Hotson Bakker Boniface Haden architects. Situated on Victoria's famous inner harbour and the Gorge Waterway, you are steps to the Transcanada Trail connector, Galloping Goose Trail, just minutes from Downtown Victoria's retail and tourist center, and overlooking the active marine sports around the harbour including yachting and kayaking. This development is complete with it's own Launch Pier, Railyard Cafe, Regatta Point Park, Public Pavilion, and is home to a mix of condos, townhomes, live/work, and retail. This project boasts a brand new waterfront community that nurtures the calm, tranquil, active and leisurely lifestyle with all the conveniences of a modern outdoor lifestyle at affordable prices.

This is the largest and the ONLY corner studio unit in the entire building (of total 7 studios only) on the Subpenthouse level. Boasting West and South exposure with plenty of natural sunlight and cross breezes, urbanviews and a 32 sqft balcony. Fantastic practical and functional layout

Featuring Full stainless steel appliance package (D/W, Fridge, Stove), combo microwave venthood, Garburator, Washer/Dryer set, Electrip fireplace, Flooring is accented with engineered hardwood flooring and mix of carpet and vinyl, Grohe pullout kitchen faucet, high speed broadband service, venetian blinds & more! Comes with ONE secured underground parking stall & ONE seperate storage locker & 2-5-10 warranty for peace-of-mind.

Contract comes with:
1. Upgraded stainless steel appliances
2. Credit of $3654.00 upon completion to the benefit of the Buyer
3. Anticipated interest from deposit of $341.25 *** this is only an estimate.


ESTIMATED COMPLETION : DECEMBER 2007.

ASSIGNMENT DETAILS:

New Price: $230,000
Original Price: $210,000
_____________________________
Lift on the Contract is $20,000.00

Due to Assignor (Seller) on Subject Removal:
1. Lift on Contract : $20,000
2. Credit of: $3654.00
3. Replacement of Deposit of : $10,500.00

TOTAL DUE ON SUBJECT REMOVAL: $34,154.00

Balance due to Developer on completion :
$199,500 - $3654.00 credit = $195,846.00
Plus Net GST on original price of $210,000.00

(other Buyer's costs are not included above such as Property Transfer Tax, legal fees, etc...) BUT did you know, if you are a First Time Home Buyer, you are eligible to be exempt from paying the Property Transfer Tax?

PLEASE CONTACT ANN LOK AT 604-767-0959 FOR MORE INFORMATION:
or visit developer's website at www.therailyards.ca for more project information.