1056 Queen

Formerly a derelict parking lot and automotive repair shop, the 9,400 sq. ft. property at 1056 Queen is well-positioned at the corner of Queen Street West and Fennings Street in an area once declared by Vogue one of the coolest neighbourhoods in the world. Close to an abundance of high-end restaurants, trendy bars, and the best shopping in the city, 1056 Queen is arguably one of the most desirable locations in Toronto.
Carlyle identified the underutilized property as a boutique development opportunity, acquiring the property in 2015. After completing renovations to enhance the property’s in-place income potential as well as design work to unlock additional value, Carlyle received an unsolicited offer to divest the property, outperforming return expectations within a two-year time horizon.