View of heritage podium at 8 Cumberland Condos

8 Cumberland Details Revealed in Platinum Preview

8 Cumberland Condos is the latest condominium by Great Gulf Homes in Yorkville.  Great Gulf have a strong presence in Yorkville having built 18 Yorkville in 2006 and still remains one of the most popular and sought after buildings in all of Toronto, and their flagship tower One Bloor rises 75 storeys at the corner of Yonge & Bloor.

Exterior Rendering of 8 Cumberland Condos

8 Cumberland is located at the corner of Yonge & Cumberland, giving quick access to everything that makes living in Yorkville so desirable.  Quick access to the best shopping, restaurants, cafes and transit that the City has to offer.  It’s no wonder why prices and rents in Yorkville are the highest in Toronto (and they continue to rise!)

We were invited for a private preview of 8 Cumberland and we got a peak at the 51 storey tower that is expected to be completed in 2021 and will house 371 suites.

The floor plate for the tower will feature just 9 suites per floor up to the 35th floor, and then drop to 8 per floor between the 36th and 45th floor.  The suites between the 46th and 51st floor have not yet been designed but will feature the best of the best including one of a kind penthouses.

Yorkville continues to be one of the fastest growing areas in Toronto and is ripe for condo investors.  Suites at 8 Cumberland will start from $860 per square foot and this neighbourhood attracts the top end of the market where buyers are paying as high as $1,600 per square foot on the resale market.

This map shows the initial price point of 8 Cumberland compared to the average per square foot price of similar resale buildings in Yorkville. Data from TREB Q1 2016 Sales

Yorkville is a submarket that is in extremely high demand on the pre-construction condo market and there is huge pent up demand.  There have been no new major launches in Yorkville since October 2014 (with Minto Yorkville Park) and the projects currently available are all over 80% sold out.

  • Minto Yorkville Park – 93% Sold
  • 1 Yorkville – 82% Sold
  • One Bloor – 99% Sold
  • The Cumberland – 83% Sold
  • Yorkville Plaza – 96% Sold
Average price of unsold inventory in pre-construction condominium projects in Yorkville. Data from Urbanation.

The early launch of 8 Cumberland is a great time to get into the market and represents excellent value in Toronto’s upscale neighbourhood and the pricing compares very favourably compared to the other resale and pre-construction condo projects.

We often speak about the three keys to new condo investments (great location, great developer and great value) and we believe that 8 Cumberland is a perfect example of a project that hits all three points.

For more information on 8 Cumberland and how you can invest early with TalkCondo, simply click the button below!

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