31 & 61 First Street

LOCATION

The Property is located on the hard corner of First Street and King Street in a commercial node located around the intersection of Concession St E and Tillson Avenue, which is located one block from the Property. Concession St E and Tillson Avenue are both main streets through Tillsonburg. Beyond this commercial node, there are primarily residential neighbourhoods, providing a strong primary market. The property is walking distance to Lake Lisgar. 

DEVELOPMENT POTENTIAL 

The Zoning and Official Plan both designate this Property as Service Commercial. The Zoning includes a Holding on this Property to ensure that orderly development of land identified by the Ministry of Environment as contaminated lands is remediated in accordance with site hydrogeological studies, site investigations, and remediation plans, and/or a Record of Site Condition is filed against the title of the subject property. The Zoning allows for a maximum building height of 11 m (approx. 4 storeys). The zoning allows for accessory dwelling units, which may allow for a mixed-use development with commercial on the ground floor and residential aboveground. 

ENVIRONMENTAL 

The Vendor has conducted on-site environmental assessment work. Upon prospective purchasers executing a Confidentiality Agreement, Imperial will provide access to a “Confidential Data Room” which will contain, among other documents, relevant environmental reports and the Vendor’s standard form Offer to Purchase (OTP). The information provided in the Data Room is for information only, and the Vendor makes no warranties or representations regarding the accuracy of that information. Accordingly, the Purchaser will be encouraged to review these reports and the OTP (including the schedules attached to the OTP) prior to submitting an Expression of Interest. The property will be sold on an “as is, where is” basis. The Vendor will not be completing any further environmental assessment work or providing a Record of Site Condition for the property prior to closing. 

SITE/PROPERTY DESCRIPTION 

The property is approximately 0.86 acres in size and has a frontage of approximately 198.39 feet on King Street, with a depth of approximately 259.23 feet on First Street. The site is currently vacant land and is slightly irregular in shape.