Scenic Tower

Attractive Rental Market: As one of Canada’s fastest growing cities, London’s population is predicted to grow by more than 200,000 in the next 30 years. In 2022, demand for purpose-built rental apartments in London outpaced the increase in new supply, pushing the vacancy rate down to 1.7%, and driving the average rent for a 2-bedroom unit up by 5.8%. 

Portfolio Expansion: Acquiring additional multi-residential properties in a growing city like London allows us to expand our portfolio and increase our asset base, while taking advantage of management synergies and economies of scale.  

Market Potential: Given the favourable rental market dynamics in this city, there is a significant opportunity to increase rental revenues at suite turnover in line with market rates. All suites will be renovated at turnover and will feature quartz countertops, four stainless steel appliances, luxury vinyl plank flooring, and window coverings.  

Location: Scenic Tower will be competitive in the market because it is ideally situated on a large lot in a secluded area, providing a serene, private environment for residents while offering easy access to Downtown London, the Victoria Hospital and an abundance of shops, restaurants and other amenities.  

The building has nine storeys, 115 units, 100 outdoor parking spaces and 48 underground. 

Suites range from 511 sq. ft. to 1076 sq. ft. 

Amenities including a social room, common laundry facilities, lockers, and an outdoor amenity area.