Workman Road & Elgin Street E

Lennard Commercial Realty (“the Advisors”) have been exclusively retained by their client (“the Vendor”) to coordinate the sale of development lands comprised of 61.904 gross acres located in the Town of Cobourg, Ontario (“the Property”). The land is located on the east side of Workman Road, south of Elgin Street E.

Planning Context

The Cobourg East Community Secondary Plan for the Town of Cobourg was adopted as Amendment No. 61 to the Official Plan and was approved on June 27, 2005. It was later amended by Official Plan Amendment No. 66 on November 12, 2007. Later, in July of 2018, the secondary plan was further amended to reflect a modified land use plan and transportation network in the northern sector of the planning area.

Development Phasing

The Secondary Plan envisions a phased approach with the subject lands being in phase 2.

Opportunity

The Advisors, on behalf of the Vendor, are soliciting investors, developers and building firms for Agreements of Purchase and Sale for the entire project. The Vendor will also consider a long term VTB of no longer than 8 years with a loan to value ratio of no less than 80:20. This low-risk development opportunity will allow qualified developers to take the project through the development process to align with the future servicing allocation plan.