Added 1 month ago
-
Type: Commercial/Retail
-
Property Type: Commercial
-
Business Type: Hospitality/Food Related
-
Zoning: BDC(19), D250, H
-
Age: No Data
-
Taxes: 25001.62
-
MLS®#: X8139764
-
Days on Site: 55 Days
-
Added: Mar 13, 2024 (1 month ago)
-
Updated:
-
Last Checked: 2 hours ago
-
Listed By: CENTURY 21 FIRST CANADIAN CORP
Investment opportunity in the heart of East London's bustling commercial district. Positioned east of downtown, this prime redevelopment site offers the potential for high-rise apartment buildings. Boasting close proximity to an array of locally-owned shops, eclectic restaurants, and cultural landmarks. The proposed site plan, complete with city feedback, outlines the possibility of two 6-storey buildings, reflecting the exciting vision for development. Current zoning density allows for up to 250 units per hectare, with the opportunity for further density increases through a zoning amendment. Recent changes eliminating parking requirements for new residential developments along Dundas Street streamline the process, enhancing the project's feasibility. Phase 2 environmental assessment completed. Currently leased to two tenants, the property offers immediate rental income, providing a steady cashflow while awaiting redevelopment.
Extras
See Brochure package in documents for site details. Documents also include proposed site plan and elevation drawings
Property
Status: Sale
Type: Hospitality/Food Related
Property Type: Commercial/Retail
Property Type: Retail
Area: London
Availability Date: Flexible
Inside
Air Conditioning: Y
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Gas Forced Air Closd
Elevator: None
Energy Certificate: N
Green Verification Status: N
Freestanding: Y
Outside Storage: N
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Fees
Tax Year: 2023
Tax Legal Description: PLAN 304 BLK M LOTS 8 AND 9 AND 28
Taxes: $25,002
Expenses: Act
Insurance Fee: 6800
Taxes Type: Annual
Tax Year: 2023
Land
Cross Street: Rectory
Municipality District: London
Parcel Number: 082820187
Sewer: San+Storm
Lot Depth: 204.23 Feet
Lot Frontage: 166.25 Feet
Zoning: BDC(19), D250, H
Commercial Specific
Rail: N
Retail Area: 4610
Retail Area Metric: Sq Ft
Sprinklers: N
Total Area: 36946.8
Total Area Metric: Sq Ft
Office Size: 3090
Office Size Metric: Sq Ft
Area Influence: Public Transit
Area Influence: Rec Centre
Days Open: V
Franchise: N
Tangible Property Included: N
Crane: N
Lot Code: Building
Survey: N
Soil Test: Envirn Audit
Financial Statement: Y
Gross Income/Sales: 93553
LLBO: N
Blessed Sacrament Separate School
Elementary: CatholicAberdeen Public School
Elementary: PublicSt Mary School
Elementary: CatholicEast Carling Public School
Elementary: PublicLester B Pearson School for the Arts
Elementary: PublicLord Roberts Public School
Elementary: PublicG A Wheable Secondary School
Secondary: PublicThames Valley Alternative Secondary School
Secondary: PublicB Davison Secondary School Secondary School
Secondary: PublicLondon Central Secondary School
Secondary: PublicCatholic Central High School
Secondary: CatholicH B Beal Secondary School
Secondary: Public
