CBC actual property holdings valued at greater than $444 million: paperwork

The information offered within the response record are 67 actively rented properties throughout Canada and in 5 different nations

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The Canadian Broadcasting Company (CBC) owns almost half a billion {dollars} in actual property holdings, in response to lately launched paperwork, with greater than two-thirds of the worth comprising its expanded broadcast heart in downtown Toronto.

A response to a Could 2023 order paper query by Conservative MP Adam Chambers in regards to the government-owned broadcaster lists 12 properties owned by the corporate throughout the nation, a portfolio price $444,414,469.

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However the firm’s most dear property by far is CBC’s Toronto Broadcast Heart at 250 Entrance St. West, which is valued at $313.8 million.

Opened in 1992, the 13-storey, 1.7 million sq. foot facility is CBC’s most important broadcast, manufacturing and management facility for its nationwide English-language operations.

CBC is headquartered at its manufacturing heart in Ottawa, occupying a number of flooring of a rented constructing on Queen Avenue close to O’Connor Avenue simply steps from Parliament Hill.

CBC’s broadcast heart in Vancouver ranks as the corporate’s second most essential property. In-built 1975 and renovated 14 years in the past, it’s valued at $99 million.

The CBC Manitoba Broadcast Heart positioned at 541 Portage Ave. In Winnipeg, $11.7 million.

Different CBC services valued at greater than $1 million embrace its services in Saint John ($4.4 million), Yellowknife ($3.1 million), Fredericton ($2.8 million), Charlottetown ($2.6 million), Saguenay ($2.5 million), Whitehorse ($1.8 million) and the second, a $1.5 million facility in Winnipeg.

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Solely two properties are price lower than $1 million: CBC Studios in Thunder Bay, valued at $537,000, and the corporate’s facility in Rankin Inlet, Nunavut, valued at $314,600.

CBC additionally leases area at 72 properties around the globe, along with its leased headquarters in Ottawa, which incorporates regional workplaces, workplaces and studios throughout Canada. Rental values ​​had been omitted from the response on the premise of economic confidentiality.

When requested in regards to the leases and their worth, CBC spokesperson Leon Mar emphasised that the data ought to stay personal.

“As said within the doc, the federal government withheld the data as a result of lease funds are thought of commercially delicate data for third events,” Marr wrote in an e-mail.

The information offered within the response record are 67 actively rented properties throughout Canada and in 5 different nations.

Within the curiosity of transparency, the CBC needs to be extra open about rental prices, mentioned Franco Terrazzano, federal director of the Canadian Taxpayers Federation.

“It certain looks like CBC is spending much more on its buildings than rivals, however what worth are taxpayers getting for all this actual property?” He mentioned.

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“Taxpayers have each proper to query why we’re paying for all these CBC buildings in Canada and in different nations.”

Internationally, CBC leases two workplaces in the USA, one in the UK, one in India, and one in France.

The CBC’s New York workplace is positioned on Third Avenue in midtown Manhattan. Its Washington, D.C., workplace occupies leased workplace area within the Nationwide Press Constructing, a brief distance from the White Home.

The Paris workplace is positioned on Rue de Wagram down the street from the Arc de Triomphe, the CBC’s India workplace is in west Mumbai, and its London workplace occupies area within the West Finish.

The response additionally famous the latest closure of the CBC’s workplaces in Beijing and Moscow, however didn’t present any data on rental prices.

Right here in Canada, a lot of the CBC’s regional workplaces are leased, together with three separate services in Montreal.

CBC’s Maison Radio-Canada on René-Lévesque Boulevard East lately reopened in a brand new, smaller location in a rented constructing west of its a lot bigger former dwelling.

In accordance with CBC Latest annual reportthe broadcaster acquired $1.24 billion in funding from the federal authorities.

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That is along with the $42 million — paid over two years in $21 million installments — given to the CBC to “offset income losses associated to the continuing affect of the COVID-19 pandemic” introduced in final yr’s fall financial assertion.

“Why does CBC must lease these properties in distant nations, not to mention so many properties in smaller Canadian cities, and the way a lot is all this costing taxpayers?” Terrazzano mentioned.

“The CBC prices taxpayers greater than a billion {dollars} yearly, so it at the very least owes Canadians full transparency.”

• e-mail: bpassifiume@postmedia.com | The tenth: @bryanpassiveum

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