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, including the iconic Aeolian Hall, London Police Station, and Western Fair District. The proposed site plan, complete with city feedback, outlines the possibility of two 6-storey buildings, reflecting the exciting vision for the 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 cash flow while awaiting redevelopment. Don't miss the chance to shape the skyline of East London and unlock the full potential of this premier redevelopment site. Contact us today to schedule a viewing or discuss further details, and let's turn your vision into reality. (id:47421)
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Head East on Dundas Street from Adelaide St, Turn Left at lights on Rectory Street into Russell Hendrix parking lot
Ownership Type
Freehold
Property Type
Office
Transaction Type
For sale
Zoning Description
BDC(19),D250,H46
Building
Basement Type
Full
Construction Material
Concrete block, Concrete Walls
Exterior Finish
Brick, Concrete, Metal, Stucco
Fire Protection
Security system
Foundation Type
Poured Concrete
Stories Total
2
Size (Exterior)
7700
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Telephone
Available
Land
Total Size
1/2 - 1.99 acres
Access Type
Road access
Amenities
Public Transit, Schools
Sewer
Municipal sewage system
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