The Wellington — Rental Market Data

The Wellington's average realized lease rent of $4,400 per month exceeds the overall comp benchmark of $2,863 by $1,537, a gap driven entirely by the building's 1,567-square-foot average suite size rather than a higher per-square-foot rate. King Edward Private Residences at 22 Leader Lane (0.04 km, 4 closed leases) averaged $2,500 per month at $4.97 per square foot over 510 square feet; 88 Scott at 88 Scott St (0.07 km, 23 closed leases) averaged $2,956 per month at $4.35 per square foot over 697 square feet; Metropole at 7 King St E (0.11 km, 7 closed leases) averaged $2,921 per month at $3.90 per square foot over 819 square feet; and Sixty Colborne at 60 Colborne St (0.11 km, 12 closed leases) averaged $3,073 per month at $4.63 per square foot over 674 square feet. Every one of these four competitors recorded active lease volume, so each provides a realized pricing benchmark rather than a speculative asking figure.

The Wellington's leased rate of $2.82 per square foot sits well below the submarket benchmark of $4.48 per square foot and below every active competitor in this pocket, while its 1,567-square-foot average suite dwarfs the 510-to-819-square-foot range offered by nearby alternatives. Against King Edward Private Residences, the subject trades at a $2.15 per square foot discount (43.3% below the comp's $4.97 rate) while providing 1,057 more interior square feet; against 88 Scott, the discount is $1.53 per square foot (35.2% below $4.35) with 870 additional square feet; against Metropole, the gap is $1.08 per square foot (27.7% below $3.90) with 748 more square feet; and against Sixty Colborne, the subject offers a $1.81 per square foot discount (39.1% below $4.63) with 893 extra square feet. The practical trade-off for a renter is straightforward: The Wellington's higher monthly rent—$1,327 to $1,900 above each competitor—is a direct reflection of nearly double the interior space, not a valuation premium on the asset itself. A tenant choosing The Wellington over 88 Scott or Sixty Colborne is paying more in total but receiving a 2-Bedroom + Den layout at a materially lower cost per square foot, making the building the most space-efficient option in this immediate cluster.

The Wellington offers an eleven-feature lifestyle package anchored by an indoor pool, hot tub and jacuzzi, sauna and steam room, squash and racquetball court, gym, concierge and security, party lounge, meeting room, games and billiards room, library and reading room, and media and theatre room—a notably broader aquatic-and-wellness stack than any single competitor in this pocket. The Library & Reading Room is unique to The Wellington and absent from all four nearby buildings; the Hot Tub & Jacuzzi appears only at King Edward Private Residences among the comps; and the Squash & Racquetball Court is shared solely with Metropole. By contrast, King Edward differentiates with housekeeping services, room service, a pet wash station, and a spa, while 88 Scott and Sixty Colborne lean on rooftop terraces, BBQ areas, and outdoor or spin/yoga studio programming that The Wellington does not offer. The combined aquatic suite (indoor pool plus hot tub plus sauna) paired with the squash court and dedicated library positions The Wellington as the most comprehensive wellness-and-leisure package in this 0.1-kilometer radius, best serving families and long-tenure professionals who prioritize spacious interiors, in-building recreation, and a quiet reading environment over rooftop social spaces or concierge housekeeping services.