- What Plot of land is being shopped for roughly $625,000 per usable acre
- Why Milton is approximately 50km from downtown Toronto
- What next Land has a development horizon up to approximately a decade
A large parcel of land adjacent to Highway 407 in the Greater Toronto Area is on the block for approximately $32.5m.
The 57.9-acre plot, at 5603 Eighth Line in Milton, is being shopped for roughly $625,000 per usable acre as a future development opportunity. An estimate conducted for the seller found there were 52 usable acres.
Colliers Canada is brokering the deal.
The parcel is near the corner of Trafalgar and Britannia Roads in the region of Halton. Potential uses may include warehousing, distribution and manufacturing.
According to marketing materials, the land is inside a significant employment zone, a provincial property designation indicating an area is strategically located to provide stable employment across the region.
The land is within the town’s official plan, but remains subject to a municipal secondary plan – essentially the town’s vision for a neighbourhood. Since the secondary plan pertaining to this plot of land is not expected to be completed before 2031, the land is being marketed as a future development opportunity, with a development horizon up to approximately a decade.
The seller is said to be willing to consider providing a vendor take-back mortgage.
Highway 407, connecting to Toronto and Hamilton. The property is close to Highways 401 and 403. A GO commuter train station is 12 km away.
Other major industrial land owners in the immediate area include Orlando Corp., Kaneff Group, Anatolia Capital and Menkes Developments.
Another recent land deal
In mid-May, Tribal Partners paid approximately $55.6m for 50.5 acres of land at 5122 First Line in Milton. That deal worked out to just over $1.1m per acre.
The buyer funded the deal with just under $20m in cash and financed the rest via a vendor take-back mortgage of about $36.2m.
The plot is near the Canadian National Railway’s $250m planned Milton Logistics Hub, according to marketing materials.
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