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266 Royal York Rd ROYAL YORK RD FOR SALE 266 TORONTO, ON INTRODUCTION AND OPPORTUNITY Avison Young and CPM Realty Corporation are pleased to bring this Mimico mixed-use 2.10-acre development property to the market for sale. The Property has been in the same freehold ownership since 1969 and has been used for the manufacture of laminated panels and other building products throughout that period. This exceptional “infill” land is subject to dual zoning: Mixed residential-commercial uses on the Royal York 1.08-acre front parcel and industrial only uses on the “Employment” designated 1.02-acre rear parcel. See list of permitted uses on page 4. The Mimico Rail Yard abutts the rear of the Property requiring new development to abide by “Guidelines for New Development in Proximity to Railway Operations.” As well, a CNR Easement exists that may influence the development envelope of the site. Offers will be considered as they come. The Property is offered for sale with guidance pricing set at $10,950,000. THE PROPERTY AND LOCATION The Property is situated in west-central Toronto in the village of Mimico of the pre-amalgamation City of Etobicoke. With its high profile on Royal York Road, the Property represents an excellent opportunity for an upscale development subject to the dual zoning parameters and setback requirements. Mimico is continuing its process of gentrification with the recent success of the “Royal York Towns” developed on the Property immediately to the south and the high-rise development currently underway just to the north. Mimico is well served by both GO transit, with the train station a short walk north, and TTC bus route 76A FOR SALE running past the property. Mimico Village offers growing retail, service and bakery/café amenities and Lake Ontario is a short Partnership. Performance. distance to the south where bike and walking paths are available to the outdoor enthusiasts. Site Area 2.10 acres with irregular configuration - see survey ROYAL YORK RD Frontage 155.40 feet (47.37m) 266 Depth Irregular to CN Rail Line and Yard abutting the rear border Zoning Front 1.08 Acres: “C” Mixed-Use Residential/Commercial Rear 1.02 Acres: E1.0 “Employment” Industrial and limited commercial Buildign Age Estimate 1940’s-1950’s 2.1-Acre Mixed-Use Residential/ 2017 Taxes $59,234 Building Main: 18,800 sf industrial plant Commercial Infill Development Property 12 ft clear height Fully sprinklered Mezzanine: 3,800 sf 1970’s style office space Brian J. Wilson, Principal Fully sprinklered Capital Markets Group Total 22,600 sf 416.673.4066 [email protected] Shipping & Receiving Two large rear drive-in doors and one side-loading dock - no leveller Avison Young Commercial Real Estate (Ontario) Inc., Brokerage John Cinelli, Broker 77 City Centre Drive, Suite 301 Mississauga, Ontario, Canada L5B 1M5 CPM Realty Corporation T 905.712.2100 F 905.712.2937 416.255.0707 ext. 226 The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been [email protected] verified and as such, cannot be warranted nor form any part of any future contract. 2 ROYAL YORK RD ROYAL YORK RD FOR SALE FOR SALE 266 TORONTO, ON 266 TORONTO, ON GUIDELINES FOR NEW DEVELOPMENT IN PROXIMITY TO RAILWAY OPERATIONS CNR EASEMENT The Guidelines were established in 2013 by The Railway Association of Canada (“RAC”) and Federation of Canadian In 1997 when a small property in the rear was purchased from Canadian National Railway Company (“CNR”) by Municipalities (“FCM”). They are meant to assist municipal governments and railways in reviewing and determining the current owner of 266 Royal York Road, CNR appended an easement to the title. The easement applies to the general planning policies when developing on lands in proximity to railway facilities. area shown in yellow on the page 5 survey. The purpose of the easement is for “the laying down, constructing, operating, maintaining, inspecting, reconstructing, removing, altering, relocating, repairing and/or replacing a Municipal Planning Staff are required to heed the provisions of the guidelines and to work with the railway piped water main, storm sewer and/or any other below grade services, works and/or facilities—“. companies and developers to ensure that development proposals, particularly residential, address safety, vibration, noise, and other issues related to the close proximity of the rail operations. This easement runs with the freehold ownership of the land requiring the “heirs, executors, successors and assigns” to be bound by its terms. No additions, alterations, excavations, etc. can be undertaken without the prior approval A complete guide is available at this link: of CNR. http://www.proximityissues.ca/asset/image/reference/guidelines/2013_05_29_Guidelines_NewDevelopment_E.pdf SPLIT ZONING E1.0: This “Employment” designation permits a C: This “C” designation permits a wide range of LOCATION MAP wide range of industrial and commercial uses as commercial and residential uses as follows: follows: » New and used car sales rooms and lots way press » Artist Studio er Ex » Professional or government office ardin G R o » Building Supply Yards y » Place of worship ve a vans A l Y » Cold Storage E o » Club, lodge or union hall r k R I » Contractor’s Establishment s d l » Dwelling unit over a commercial use and private i n g home day care associated with such residential use t » Dry Cleaning or Laundry Plant o d W v n l » Funeral parlour A e B v r » Industrial Sales and Service Use e o n h » Hotel or motel u e » Laboratory e S k a » Medical or dental centre or office L » Office » Public, separate or private school ine ail L » Performing Arts Studio t R » Retail store/Restaurant es e W » Pet Services or sh » Service station/Repair Shop ke LAKE ONTARIO La » Production Studio » Dry cleaning establishments using non-combustible » Service Shop cleaning solvents and customer-operated automatic CN RAIL YARD laundries or cleaners » Software Development and Processing » Lodging-house » Warehouse » Day care » Wholesaling Use » Group home 3 4 ROYAL YORK RD ROYAL YORK RD FOR SALE FOR SALE 266 TORONTO, ON 266 TORONTO, ON ABOUT MIMICO Mimico originated in 1856 mainly from three family farms and became an independent “Village” in 1911. In 1967 it was amalgamated into the Borough of Etobicoke which was itself amalgamated in 1998 into the current city of EASEMENT Toronto. Mimico grew and prospered when the Grand Trunk Railway opened the Mimico Yard which remains today as a CN and GO Train facility. The influx of workers who found employment at the railyard resulted in a building boom and the yard continues to be a major employer in the area. The village atmosphere along the Royal York commercial strip, quaint mature neighbourhoods and the ability to enjoy lakeside amenities makes Mimico a very liveable if not somewhat laidback community. FUTURE R I O S Y L A I L N Y G O TO R K R N O A A V D E N U WAY E EXPRESS RDINER GA “On The Go Mimico” The “Royal York Towns” 39 Newcastle Street I 327 Royal York Road 256 Royal York Road SL IN » Two conjoined towers; one 28 G storeys and one 30 storeys TO R » 242 suites from 537 - 2,700 sf » Located immediately south of O subject property N Y A » 2 storeys of retail will bring A L » Located on the North side of Y V RAILYARD O business into the growing E R the Mimico GO Station » One of five blocks built along Royal N K York Road and Drummond Street Mimico area U R O E A » Currently under construction MIMICO D » Complete with occupancy given » Pre-construction prior to registration 5 *Exclusions may apply. 6 ROYAL YORK RD ROYAL YORK RD FOR SALE FOR SALE 266 TORONTO, ON 266 TORONTO, ON 2017 REALTY TAXES OFFERING GUIDELINES $59,234 This is an Offering Memorandum intended solely for your own use in considering whether to pursue negotiations to purchase 266 Royal York Road, Toronto, Ontario (The “Property”). It contains selected information and has been prepared by Avison Young and CPM Realty Corporation primarily from information obtained from the Vendor’s records with respect to the Property and from reports prepared by third PIN NUMBER parties. 07601-0074 This document does not purport to be all-inclusive or to contain all of the information that a prospected purchaser may desire. Neither the Vendor nor Avison Young, CPM Realty, nor any of their officers, employees or agents make any representation or warranty, expressed LEGAL DESCRIPTION or implied, as to the accuracy or completedness of this document or any of its contents or as to any aspect of the Property and no legal liability is assumed or is to be implied with respect thereto. All numerical information in this document is approximate only. Each PT LT 3, BLK C, PL 339 OR 389, PT LOT 4, BLK C, PL 339 prospective purchaser must rely on its own inspection and investigation in order to satisfy itself on any matter with respect to the Property. OR 389, PT LOT 16, BLK C, PL 339 OR 389, PT LOT 17, Nothing herein shall form part of any offer submitted. BLK C PL 339 OR 389, AS IN EB354804; S/T EB354804; ETOBICOKE, CITY OF TORONTO The Vendor, Avison Young, and CPM Realty reserve the right, at their sole discretion, to cease offering the Property at any time following the date of preparation of this document. SALE CONDITIONS VENDOR The Property and all fixtures, chattels and equipment included therein are to be purchased on an “as is, where is” basis and there is no AURALITE PANEL PRODUCTS LTD.
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