- What A 98-acre piece of land has been listed in Brampton, Ont.
- Why An estimated 64 acres are usable for development
- What next A planned road extension likely will allow for a realignment of a stream, increasing the usable acreage
A prime development land parcel up for sale in Brampton, Ont., could fetch north of $80m, Green Street News can reveal.
Of the total 98 acres, 64 acres are estimated to be usable, with the valuation pegged at about $1.3m/usable acre. CBRE has the marketing assignment on behalf of a private company.
Marketing materials note that the site, on the west side of Heritage Road and north of Steeles Avenue, is undeveloped and at the city’s urban boundary.
A planned extension of Financial Drive will pass through the property and likely will allow for a realignment of a stream, which would increase the usable acreage.
The property is designated as a “standard industrial” area within the City of Brampton’s Official Plan.
It’s less than 4 km to the 407 and 401 highways, and under 1 km to a large Amazon fulfilment centre.
In October, Panattoni sold 23 acres of raw industrial land in Brampton for $54m, or about $2.3m/acre.
