Vancouver's second-last downtown gas station sold to a development company for a bargain price of $72 million, and now its last fuel centre is on the market.
CTV News reports the Esso station located at the intersection of Burrard and Davie Street is listed without an asking price, but adds that it will likely sell for a similar price as its former competitor.
The city's skyline continues to expand, and may do so at the expense of commuters or visitors in and around the downtown core due to an increased inaccessibility of fuel. However, this surplus of earnings may prove valuable to land owners.
“[Unlike real estate,] pumping gasoline is not a very high margin business,” said Tsur Somerville, director of the University of British Columbia Centre for Urban Economics, to CTV News.