request for expressions of interestgagnerealestate.ca/pdf/is_willowdale.pdf · p.g. gagnÉ...
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Request for Expressions of Intereston a Redevelopment Opportunity
4759-4789 Yonge Street, Toronto, Ontario
Expressions of Interest are being sought by the owner, Sun Life Assurance Company of Canada, for the opportunity to redevelop the
freehold interest of the 3.686 acre Willowdale Plaza Site located on the prime south east corner of Yonge Street and Sheppard Avenue.
Contact :
Pierre Gagné, Broker Tel: (416) 955-1885 Email: [email protected]
Marketing Support Provided by:
Real Property Solutions
P.G. GAGNÉ COMMERCIAL REAL ESTATE CORP., 220 Bay Street, 9th Floor Toronto, ON M5J 2W4*Tel :416-955-1885 Fax :416-862-2136*[email protected]
The Property (“The Willowdale Site”) The Willowdale Site is located on the prime south east corner of Yonge Street and Sheppard Avenue East in Toronto. The site is currently leased and the leasehold interest expires September 30, 2007. There are no renewal rights. The site area is 3.686 acres for the purpose of density calculations with 3.24 acres available for physical development. The building is approximately 51,165 square feet with full basement. Zoning & Official Plan The existing zoning on the property is C2 (Local Shopping Centre). Under the North York Centre Secondary Plan the maximum density permitted on the site is 4.5 times the lot area for mixed use. The Secondary Plan and Section 37 of the Planning Act does permit various density incentives and transfers which have permitted developers in the past to increase density above this limit. Under the current official plan for the area (OPA 447) a mixed used designation, with no residential uses, has been suggested. Notices of appeal have been filed on behalf of Sun Life to argue the removal of the residential use limitation under the OPA 447 Mixed Use designation at the site. A decision will be rendered after review of a complete site specific Official Plan and Zoning Bylaw Amendment application. Financing Treat as clear.
Procedures The site is being offered on an unpriced proposal-call basis. Sun Life Assurance Company of Canada prefers Expressions of Interest on a cash basis with a minimal conditional period. The Expressions of Interest are due Wednesday March 9th, 2005 at 12:00 noon at the offices of P.G. Gagné Commercial Real Estate Corp., 220 Bay Street, 9th Floor, Toronto, Ontario M5J 2W4 to the attention of Pierre Gagné. For Further Information please contact:
Pierre Gagné, Broker Tel (416) 955-1885 Email : [email protected]
Marketing Support Provided by:
Real Property Solutions
Notice: Although considerable care has been taken to ensure the accuracy of the information contained in this package, no representations or warranties are made in connection therewith. These statements are based upon the information furnished by the principals and sources, which we deem reliable, but for which we assume no responsibility. This submission is made subject to prior sale, change in price or terms, or withdrawal without notice. Prospective purchasers should not construe this information as legal or tax advice. Prospective purchasers should consult counsel, accountants or other advisors on matters related to this presentation. It is understood that P.G. Gagné Commercial Real Estate Corp. (the Broker) acts as the listing broker for the vendor, owes a fiduciary duty to the vendor, and will be compensated by the vendor. The vendor has agreed to the possibility of dual agency. Unless advised otherwise in writing, it shall be conclusively deemed that any co-operating broker involved on behalf of a prospective purchaser will act as agent of the purchaser. Co-operating brokers will be required to register their clients and will receive a commission equal to 0.5% of the sale price plus applicable GST on successful closing of the sale with the said registered client and upon the Broker having been paid in full by the vendor. The Broker and the vendor shall have no obligation whatsoever to any co-operating broker unless provided for in writing.
Request for Expressions of InterestREDEVELOPMENT OPPORTUNITY - 4759-4789 Yonge Street, Toronto, Ontario
P.G. GAGNÉ COMMERCIAL REAL ESTATE CORP., 220 Bay Street, 9th Floor Toronto, ON M5J 2W4*Tel :416-955-1885 Fax :416-862-2136*[email protected]
One Artistic Vision of Redevelopment