Colliers International (“Colliers” or “Advisor”) on behalf of Canadian Tire Real Estate Limited (the “Vendor”) is pleased to offer for sale a 100% freehold interest in 50 COOTES DRIVE, HAMILTON, ONTARIO (the “Property” or “Site”), a sizable ±2.26 acre mixed-use site exceptionally well-located on the south side of Cootes Drive. The Property is comprised of three parcels; one retail store to the west (“A”), one vacant parcel to the northeast (“B”), and one vacant parcel to the southeast (“C”). Conceptual planning & architectural massing shows a potential of 163,342 of buildable square feet over 8 storey.
Situated less than 2 kilometres west of McMaster University, the Property offers a prime location near the central core of Hamilton in an affluent neighbourhood of Dundas. The city of Hamilton is a proven value-based residential market with 8 active condominium projects featuring an average price of $536 per square foot, while pricing is reaching as high as $647 PSF.
The current property is improved with a closed Canadian Tire building of ±23,985 SF over two floors.