Business

Here are the 5 most valuable homes in B.C. for 2024

Published

10 months ago

January 2, 2024

The B.C. Assessment Authority’s list of the most valuable homes in B.C. is dominated, naturally, by the City of Vancouver but also includes a Gulf Island property. Here are the top five:

(Note: B.C. Assessment’s 2024 valuations are based on the home’s value as of July 1, 2023. Read more here.)

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1. 3085 Point Grey Rd. ($81,765,000)

chip wilson vancouver home — Chip Wilson’s home at 3085 Pt. Grey Rd. in Vancouver is now valued at $81,765,000. Photo by NICK PROCAYLO /PNG

The house that yoga pants built.

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Vancouver billionaire and Lululemon founder Chip Wilson’s 16,000-square-foot concrete waterfront home is again the most valuable residential property in B.C.

The property rose in value 10.5 per cent between July 2022 and July 2023 — outperforming the four per cent average for Vancouver homes.

2. 4707 Belmont Ave. ($70,415,000)

B.C.'s most expensive homes — The residence at 4707 Belmont in Vancouver is the second-most expensive in B.C. Photo by NICK PROCAYLO /PNG

This home on a 0.7-hectare (1.719-acre) lot was completed in 2007 and has close to 29,000 square feet of living space. Most of that is on the top floor, which has sweeping views of English Bay and the North Shore mountains.

On July 1, 2022, the home was valued at $66,964,000, so it has risen in value by just over five per cent.

3. James Island ($57,934,000)

James Island near Vancouver Island, BC. Photo by a handout /PNG

The site of a former dynamite manufacturing plant and the claimed hereditary home to the Tsawout First Nation, the 312-hectare property is located off the coast of Vancouver Island, south of Sidney, and is owned by JI Properties, a holding company for Seattle billionaire Craig McCaw.

The property was previously valued at $61,239,000, so has fallen in worth by just over five per cent.

4. 4743 Belmont Ave. ($43,688,000)

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vancouver's most expensive homes — 4743 Belmont Ave. in Vancouver. Photo by NICK PROCAYLO /PNG

Built and once owned by the late Joe Segal, this 16,500-square-foot home was sold in April 2021 for $42,000,000.

It increased in value 3.2 per cent between July 1, 2022, and July 1, 2023.

5. 2815 Point Grey Rd. ($42,937,000)

The house that Army & Navy built.

This 9,300-square-foot home is owned by Jaquie Cohen, the granddaughter of the founder of Army & Navy, Samuel Cohen.

In July 2022, it was assessed at $39,423,000, so has risen in value by almost nine per cent.

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Business

TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

Published

6 hours ago

November 7, 2024

Anne Joseph

CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

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Business

BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

Published

6 hours ago

November 7, 2024

Anne Joseph

BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

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Business

Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

Published

6 hours ago

November 7, 2024

Anne Joseph

TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.

The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.

Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.

On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.

In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.

It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:GOOS)

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