(Updated January 2026)

Disclaimer: The information contained below is provided for general guidance purposes only. The definitive terms and conditions governing any tenancy will be set out exclusively in the applicable, fully executed lease agreement. In the event of an inconsistency between this document and the lease agreement, the lease agreement will prevail. If you have any questions or require clarification regarding the information provided, please contact our Leasing team directly. This document may be amended or updated from time to time without notice. 

Granville Island Leasing

1. Who manages leasing on Granville Island?

Leasing is administered by the Leasing Department of Granville Island, under the oversight of Canada Mortgage and Housing Corporation (CMHC). This is the landlord in reference.  Certain premises are managed directly by CMHC, while other premises are managed by head lease tenants who, in turn, sublease the space to individual businesses.

2. How do I apply for a space or get on a waitlist?

Visit https://granvilleisland.com/leasing or email leasing@granvilleisland.com to:

• View current vacancies.
• Sign up for notifications.
• Send an inquiry to the leasing team. (Please allow 10 business days for a response)

3. What types of businesses are encouraged on Granville Island?

Granville Island prioritizes tenants who:

• Contribute to positive visitor experiences.
• Support diversity, equity, and inclusion.
• Are locally based, full-time owner-operated businesses.
• Promote financial sustainability for both tenant and landlord.
• Enhance the arts, culture, and creative economies.
• Align with industry best practices.
• Demonstrate innovation and best in class products and services.
• Support day and evening activation through artisan production, cultural programming, and events.

4. How are leasing decisions made?

Leasing decisions are made on a case-by-case basis, based on a potential tenant’s contributions to enhance the visitor experience on Granville Island.

5. Are there Granville Island guidelines for renovations, signage or branding updates?

Yes, Granville Island has specific guidelines and a landlord approval process for all renovations, signage or branding updates.

• Tenants must:
  • Submit design plans for landlord review and written approval.
  • Comply with building codes, safety standards, and design guidelines that respect Granville Island’s unique character.
  • Cover tenant improvement costs, unless otherwise negotiated. 

Lease Specifics & Process

6. What is the typical lease term?

• Lease terms vary by space and use.
• Fixed-term leases are most common.
• Month-to-month agreements may apply in some cases.

7. How is rent determined?

Rent is based on several factors, including, but not limited to:

• Market rates for comparable spaces.
• Use type (ex. retail, full-service food and beverage, quick service retail, artisan studio, etc).
• Additional rent charges may include property taxes, utilities, common area maintenance (CAM), and administration fees.

8. What is additional rent and how is it charged?

Additional rent typically includes, but is not limited to:

• Common Area Maintenance (CAM) costs, such as maintenance of common areas, (Ie: snow, removal, pest control, waste removal,), janitorial, security, etc.
• Property taxes and insurance.
• Utilities (Ie: water, hydro,) and shared services.
• Administrative fees (industry standard fee to cover management of operations).

These costs are estimated annually and reconciled at the end of each year. If actual costs differ from estimates, tenants may receive a rent credit or invoice for shortfall, depending on the reconciliation outcome. Details are outlined in the lease agreement.

9. What happens when a lease expires?

When a lease expires, the landlord, CMHC, will communicate terms of vacancy. Vacant possession of the leased premises is required at the time of expiry, as per the lease. If renewal discussions are ongoing, tenants typically remain on a month-to-month basis.

Business Sales & Leasing Terms

10. Can I sell my business?

Yes, tenants may sell their business on Granville Island. However, selling a business does not transfer any right to occupy the leased premises. Any assignment, sublease, or other transfer of the lease, including change of control or share transfer (which is deemed an assignment), requires the landlord’s prior written consent.

11. What do I need to consider if planning to sell a business on Granville Island?

If the sale involves or results in any transfer of lease rights, the landlord’s prior written consent is required before proceeding or completing the transaction.

Such rights include, without limitation:

• Assignment or sublease of the lease;
• Any occupancy by another entity;
• A change of control or share transfer;
• A bulk sale of business assets.

If you intend to sell your business:

• Review Your Lease

Your lease governs your rights and obligations for the leased premises. Selling your business or changing ownership structure does not guarantee the business will remain on Granville Island.

• Notify the Landlord First

Discuss with the landlord your intent before initiating any sale process. Prior written consent from the Landlord is required for any change of control/business sale/share transfer. The review process is complex, and the landlord requires as much time as possible to review, evaluate and process the request.

• Get Written Approval
  Landlord approval must be in writing before you sell, transfer shares, or change ownership.
• Understand What You’re Selling
  The value of your business does not include the right to occupy leased premises. The landlord controls the leased premises.
• Coordinate With the Landlord
  Once consent is granted, work with the landlord to ensure a smooth transition. The tenant shall submit the information that is requested by the landlord.

The landlord will require a minimum of:

• A comprehensive business plan and financial materials.
• Credit checks and business references.
• Articles of Incorporation and share registry.
• Proof of business in good standing.
• Conditions including, but not limited to, training by the current owner or security deposits.
• Proof of experience and best in class products and/or services.

The Landlord retains sole and absolute discretion with respect to all leasing decisions and approvals, including the right to accept or decline any proposed transaction. As such, certain conditions may apply, which may include, without limitation:

• Review and/or testing of the proposed product or service by the Landlord, to the Landlord’s satisfaction, failing which the Landlord may, in its sole discretion, decline to proceed with or approve the proposed transaction.
• Training and/or succession planning to be provided by the current owner, where applicable.
• Provision of security deposits to secure initial rent obligations.
• Commitment to complete required renovations or improvements, as determined by the Landlord.
• Requirement for a lease guarantor where the buyer’s experience, operating history, or financial strength is deemed insufficient by the Landlord.

12. Does the landlord set the sale price?

No, the sale price is determined by the seller and buyer. However, the landlord may request a business valuation to ensure the business sale price reflects realistic cash flow and sustainability.

13. What if the prospective owner wants to change the business type?

Any change of use requires prior written approval by the landlord and will be reviewed under the same standards as a new tenant application.

Selling the business does not transfer or include your lease. All assignments or new leases require the landlord’s prior written consent and compliance with lease terms.

Negotiation of the sale of a business allows an opportunity to review product and service offerings that may change to support the evolution of the thriving tenant mix.

14. Where can I get more information?

For all leasing inquiries, contact:

Granville Island Leasing

Email: leasing@granvilleisland.com

Website: https://granvilleisland.com/leasing