DEVELOPMENT OPPORTUNITY – PRIME MULTI-RESIDENTIAL SITE! An exceptional investment opportunity in one of London’s most sought-after neighborhoods! This half-acre site has been rezoned for an 8-storey, 77-unit apartment building, allowing the next owner to proceed directly to the draft Site Plan Approval (SPA) phase without the challenges of rezoning. The property is currently tenanted, providing immediate cash flow to help offset holding costs during the SPA process. Located near Wortley Village, one of London’s most vibrant and desirable communities, this site is highly appealing to future tenants. Its proximity to shops, dining, parks, and transit ensures strong rental demand and long-term growth potential. Additionally, the current zoning permits up to 12 storeys, with the potential to further increase density if underground parking is incorporated (buyer to conduct due diligence). This is a rare, turnkey development opportunity in a prime location. With growing demand for rental housing and limited supply, this project is strategically positioned for strong returns. The seller is willing to partner through a joint venture and is open to exploring flexible financing solutions. Don’t miss your chance to capitalize on this incredible investment. (id:47421)
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Detailed Information
Lot
150 x 143 ft
Amenities Nearby
Public Transit, Schools
Features
Country residential
Listing Contract Date
2025-03-03
Location Description
BASE LINE ROAD WEST OF WHARNCLIFFE
Ownership Type
Freehold
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
R9-7
Building
Basement Type
None
Utility Water
Municipal water
Utilities
Type
Description
Natural Gas
Available
Land
Total Size
0.492 acres
Amenities
Public Transit, Schools
Sewer
Municipal sewage system
Size of Irregular Land
0.492
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