Residential Land

Residential redevelopment site at Bayview and Sheppard being sold under Power of Sale. The property size is 23,958 sf / 0.55 acres. The existing building is 3-storeys with 20 units that are mostly vacant. Building size is aprx. 19,500 square foot with ample surface parking. The building has 10 one-bedroom and 10 two-bedroom units, each containing a private balcony. The Property is within 150m of both the Bayview TTC Subway Station and the Highway 401 on-ramp. The asset is well-positioned for near-term redevelopment while providing interim holding income. The proposed redevelopment of Bayview Village, contemplating over six million square feet of gross floor area, and the proposed 43-storey residential project to the immediate north of the subject Site at 461 Sheppard Ave E, provides precedent for intensification of the subject Property. Offer date will be announced in the coming weeks and Buyers will be asked to submit on the Vendor's standard form of APS.