- What Vacant land belonging to a defunct freight trucking company is on the market in Halton Hills
- Why An Ontario court ordered that the property be auctioned off as part of bankruptcy proceedings against the owner
- What next CBRE is soliciting bids for the property until Sept. 19
A 7.3-acre industrial property in rural Halton Hills is on the block as part of a court-ordered sale.
CBRE is marketing the property at 11553 Tenth Line on behalf of court-appointed receiver MNP. CBRE is accepting offers until Sept. 19 at noon. A minimum deposit of 10% is required for all bids.
The property is registered to defunct trucking company True North Freight Solutions, which ceased operations this year. In May, MNP was appointed by the Ontario Superior Court of Justice to oversee the dispersal of True North’s assets, including the Halton Hills property.
According to court filings, True North defaulted on a $17.8m loan issued by the Business Development Bank of Canada in late 2021. Bank of Montreal is also listed as a creditor.
Marketing materials note that the property’s zoning allows for heavy equipment industrial uses, including operation of a freight truck terminal and outdoor equipment storage.
The site also contains two structures: a 4,000 sq ft Quonset hut — a semicircular prefabricated structure usually made of galvanized steel — and a 3,000 sq ft modular building that can be purchased separately from an unidentified third party.
The site is 15 km from the nearest Highway 401 on-ramp and 17 km from an entrance to the tolled Highway 407.
