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$600,000
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Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision South F
MLS Listing ID X12025685
Annual Tax Amount $8,823
Tax Year 2024
Property Sub-Type Land
Lot Depth 149.0
Lot Front 138.83
Property Description
This vacant parcel is prime for high-rise residential development. Comprises 0.453 acres, to be sold together with the westerly 17 & 19 Highview Avenue W properties. 19 Highview Avenue W is separately owned by a third party. All three properties total 0.793 acres. High traffic area (over 34,000 vehicles per day). Along London's Golden Auto Mile (Wharncliffe Rd. S). Just south of Commissioners Rd. W, which carries over 31,000 vehicles per day. Along 3 bus routes and northerly adjacent to a multi-storey Venvi Living Retirement Residence. Amenity-rich area, including grocery stores, business centres, car dealerships, gold, parks, regional hospital, restaurants, and retail. Roughly 8 minutes from Downtown London and much more. Subject parcel is designated "Urban Corridors" and zoned for 40 metres of building height. Permitted uses include apartment buildings, lodging house class 2, senior citizens apartment buildings, handicapped persons apartment buildings, and continuum-of-care facilities. 17 & 19 Highview Avenue W. require rezoning from their current R1-9 uses. Public site plan review will be required for all three properties to ensure that development takes a form compatible with adjacent uses. 19 Highview Avenue W houses a single-family home with 1,564 SF of total living space; thus offering the opportunity for intermediate rental income, prior to redevelopment. Retained consultant has now submitted Proposal Summary for Pre-Application Consultation to set development parameters for all three properties in principle with Municipality. London Plan Place Type boundary interpretation policy could allow all three properties to be considered under Urban Corridors Place Type. 15 storeys could be permitted based on Municipal Council approved amendment to London Plan. Final Provincial approval from MMAH is forthcoming.
Location
Province ON
County Middlesex
Community South F
Area Middlesex
Zoning R9 -7 (H40), h-101
Exterior
Utilities Available Available
Lot Frontage 138.83
Lot Depth 149.0
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Listed by ROYAL LEPAGE REAL ESTATE SERVICES LTD.