PARKER JACKSON LANDS ZONING & DRAFT PLAN APPROVED DEVELOPMENT LAND - 1653 COMMISSIONERS ROAD EAST & 2624 JACKSON ROAD, LONDON, ON - CBRE
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ZONING & DRAFT PLAN APPROVED DEVELOPMENT LAND
PARKER
JACKSON
LANDS
COM
MIS
SIO
NER
S R
D E
RD
SON
JAC K
BR
AD
LE
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AV
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1653 COMMISSIONERS ROAD EAST & 2624 JACKSON ROAD, LONDON, ON
ZONING & DRAFT PLAN APPROVED DEVELOPMENT LAND WHITE OAKS MALL
HIGHLAND COUNTRY CLUB
PARKER GLEN CAIRN PARK
JACKSON
VICTORIA HOSPITAL DOWNTOWN LONDON
LANDS MILLS POND H I G H B U R Y AV E N
THE OFFERING Final phases are coming
soon and will provide up to
1,000 more units to the area.
CITY WIDE SPORTS PARK
ÉCOLE SECONDAIRE
CBRE Limited is pleased to offer for sale 192 acres located at 1653 Commissioners Road East GABRIEL-DUMONT
DA
and 2624 Jackson Road (the “Site” or “Property”) in southeast London, Ontario. The Property RN
has been rezoned and is draft plan approved with conditions for low and medium density LE
residential blocks, as well as a school block, parks and open spaces. As such, the offering allows Y
MEADOWGATE PARK BL
for a significant development of scale. In addition, there are 25.9 acres of future development VD
land at the corner of Jackson Road and Bradley Avenue. The configuration of the Site along JAC K S O N R D
with the natural heritage features allows for premium lots to be built which is beneficial for
CO
any developer or builder. Based on the vendor’s preliminary lotting plan, the entire Property
could allow for 510 single detached units, 143 freehold street townhouse units and 349 medium
MM
density units, for a total of 1,002 residential units on the Site, excluding any future phases.
IS
SI
Development on the Site can commence in phases or a single phase if desired by the
ON
purchaser. The vendor has a proposed phasing plan, although this plan is not final and can
be adjusted to meet the requirements of a purchaser. Within the proposed Phase 1 lands the
ER
vendor has plans showing 213 single family units, 36 freehold street townhouse units and 153
E
S
medium density units. A Site Alteration Agreement is being prepared by the City to complete
AV
RD
the earthworks and they are drafting a Subdivision Agreement for the proposed Phase 1
Y
lands. Approvals of both the site alteration drawing and Phase 1 engineering drawings is
E
imminent. Commencement of earthworks on the Site can commence once the Site Alteration LE
AD
Agreement has been executed and required security posted. The vendor has filed an extension
for draft plan approvals, ensuring that the draft plan approvals do not lapse in March 2021.
BR
New housing construction activity in the City of London has remained strong throughout 2020.
Year-to-Date (YTD), low density housing starts total 1,934 units (up 10% from YTD 2019) and INVESTMENT HIGHLIGHTS
housing completions total 1,803 (up 14% from YTD 2019). This increase in housing construction
APPROVED DRAFT PLAN OF SUBDIVISION (2018) Type Size (Ac.)
activity has been accompanied by strong absorption, with nearly 2,000 low density units
Low Density Residential 47.5
absorbed in 2019 (CMHC, 2020). Residential development in the Summerside and Meadowlily
Medium Density Residential 33.4
Woods Neighbourhoods continues to be active with a number of projects currently under way
School 5.0
in the area. Within 2.5 km of the Site there are four development projects, led by well known
Park and Walkways 9.4
reputable local London developers. The Parker Jackson Lands are the last piece of key CONFIGURATION
development land in this area, and allows for a new neighbourhood in southeast London.
Future Development 25.9 FAVOURABLE
Open Space 23.6
ALLOWS FOR
DEMOGRAPHICS
Open Space Buffer 8.7 PREMIUM LOTS
The Site benefits from close proximity to major arterial roads such as Highbury Avenue and
SWM Facility (transferred to the 9.1
Veterans Parkway. In addition, the Property is located minutes to the London International City)
The natural heritage features and open Within a 1km radius of the Property the
Airport, as well as Highway 401, allowing for direct connections across southwestern Ontario. Existing Hydro Corridor 4.0
spaces on the Site ideally allows for population is anticipated to increase by
London provides a diverse array of amenities, services and a variety of top tier institutions Part Block 0.04
E
premium lots which is beneficial for any 8.9% by 2025. In addition, the average
including the University of Western Ontario and University Hospital – London Health Sciences Access Block 0.08 household income is just under $111,000
RD
purchaser.
Centre. Road Widening 1.3 which is 16% higher than London’s total
Reserves 0.1 average (SiteWise, 2020).
ERS
Roads 33.0
PROPERTY INFORMATION Total 192.02
ION
EARTHWORKS
TO COMMENCE MARKET & DEMAND
ISS
TOTAL SIZE 192 ac. IMMINENTLY
BRADLEY
MM
PIN(s) 081990206 & 081990170
Earthworks can commence once a Demand for low density residential
Site Alteration Agreement is executed
CO
FRONTAGE 5,120 ft. along Jackson Rd; 2,515 ft. along Commissioners Rd E product remains strong in London, as the
1,225 ft. of frontage along Bradley Ave making this a significant opportunity to average price for a single detached house
OFFICIAL PLAN Low Density Residential; Multi-Family, Medium Density build. A Site Alteration Agreement has has increased 28.5% over October 2019
Residential; Open Space; Urban Reserve Community Growth; been submitted by the vendor for the (LSTAR, 2020).
Environmental Review
entire Property.
AVE
ZONING (As amended) R1, R4, R5, R6, OS1, OS5, UR4
EXISTING CONDITIONS Vacant and unimproved
SERVICING Services are at Jackson Road and Darnley Boulevard, abutting
the proposed Phase 1 lands. Please see Document Centre for
more information.
JACKSON RD
OFFERING PROCESS
CBRE Limited has been retained by the vendor as the exclusive advisor to seek DOCUMENT CENTRE
proposals for the disposition of the Property in London, Ontario.
• Engineering Approval - Phase 1 • Proposed Lot Plan
The vendor’s objective is to maximize upfront cash sale proceeds and preference • Site Alteration • Phase 1 Preliminary Subdivision
will be given to offers with limited (or no) conditionality. Interested purchasers • Draft Plan Conditions Plan (CAD and PDF)
will berequired to execute and submit on CBRE’s Confidentiality Agreement • Draft Plan (2018) • Phasing Plan
(“CA”) prior to receiving the information on the offering. • Geotechnical Report • Zoning By-Law Amendment
• Hydrogeological Assessment • Survey
All inquiries regarding the Property or for further information should be directed • Vendors Form of APS
• Monitoring Plan
to the advisors below.
OFFER SUBMISSIONS
CONFIDENTIALITY AGREEMENT
Offers will be reviewed starting
Asking Price: $59,950,000 January 6th, 2021.
To access the Document Centre please sign the CA and return to:
meg.mccallum@cbre.com All offers are requested to be submitted to the attention of both:
Lauren White* | lauren.white@cbre.com
David Yanoshita* | david.yanoshita@cbre.com
24
COMMERCIAL AMENITIES
1 Food Basics 7 White Oaks Mall
11 2 Shoppers Drug Mart 8 Costco
3 Shell Gas Station 9 Canadian Tire
16 4 MEC 10 Metro
15 DOWNTOWN LONDON
5 LCBO 11 Masonville Mall
14
6 FreshCo
INSTITUTIONS
WESTERN UNIVERSITY
12 Victoria Hospital 15 University Hospital
22
3 PARKER 13 Thompson Medical 16 Fanshawe College
19
17 JACKSON Care Centre
13 LANDS 14 Western University
1
10 12 2
23
6 18 20
PARKS & RECREATION
25 17 Pottersburg Off 22 Thames Park
21 Leash Dog Park
18 Glen Cairn Park 23 Highland Country Club
4
5 19 Meadowlily Woods Trail 24 Fanshawe
Conservation Area
7 26 20 MeadowGate Park
9 25 Westminster Ponds
21 Mills Pond
WESTMINSTER PONDS
26 Centrefield Sports Inc
HIGHLAND COUNTRY CLUB
8
Contact Us For More Information
LAND SERVICES GROUP CBRE LONDON
Mike Czestochowski** Lauren White* Emelie Rowe* David Yanoshita* Meg McCallum*
Executive Vice President Senior Vice President Planner Associate Vice President Assistant, Client Services
T +1 416 495 6257 T +1 416 495 6223 T +1 416 495 6306 T +1 519 286 2020 T +1 519 286 2016
mike.czestochowski@cbre.com lauren.white@cbre.com emelie.rowe@cbre.com david.yanoshita@cbre.com meg.mccallum@cbre.com
CBRE Limited | 2005 Sheppard Ave E , Suite 800, Toronto, ON M2J 5B4
*Sales Representative **Broker | All outlines are approximate
This disclaimer shall apply to the vendor, to include all employees and independent contractors (“Vendor”); and to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation, to include all employees and independent contractors (“CBRE”). The
information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by the Vendor or CBRE, and the Vendor and CBRE do not represent, warrant
or guarantee the accuracy, correctness and completeness of the Information. The Vendor and CBRE do not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the
Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any
time without notice or obligation to the recipient from the Vendor and CBRE.CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their
www.cbre.ca/mclsg respective owners. All Rights Reserved. Mapping Sources: Google Earth 11/2020Mike Czestochowski** Lauren White* David Yanoshita*
Executive Vice President Senior Vice President Associate Vice President
416 495 6257 416 495 6223 519 286 2020
mike.czestochowski@cbre.com lauren.white@cbre.com david.yanoshita@cbre.com
CONFIDENTIALITY AGREEMENT
PARKER JACKSON LANDS · LONDON, ONTARIO
The undersigned hereby acknowledges that CBRE Limited (“CBRE”); through the Land Services Group, has been retained by the vendor on an exclusive basis
to arrange the sale of the Parker Jackson Lands (the “Property”). All inquiries and communications with respect to the Property shall be directed to any of the
listing agents of CBRE. We have requested from the vendor and CBRE, information, including confidential and proprietary information, which has not been
generally disclosed to the public, for use in evaluating a potential purchase of the Property.
In exchange for good and valuable consideration provided by the vendor and CBRE, including, without limitation, the delivery of a Confidential Information
Memorandum (the “CIM”), the receipt and sufficiency of which is hereby acknowledged, we agree to keep confidential any and all information supplied to us
concerning the Property that is not a matter of public record and not to utilize any such information for our own benefit (or for the benefit of anyone else) other
than for the evaluation of the Property with respect to a potential purchase.
We understand that we may transmit any such information to partners, officers, directors, employees or legal or financial advisors (collectively, “representatives”)
but only to the extent that they need to know such information for the purpose of such evaluation. We undertake to inform such representatives of the confidential
nature of such information and that they will be bound by the terms of this Agreement. We agree to be responsible for any breach of this Agreement by our
representatives. We agree that any legal, financial or any other third party advisors that are retained by us, to act on our behalf, will be compensated by us.
We understand that upon the vendor’s request we will provide all pertinent financials of the company looking to purchase the above-mentioned property to the
Vendor in a timely manner and that these statements will only be used for the purpose of determining the financial feasibility for this transaction.
We agree to read and examine all material provided by the vendor on the above-mentioned property and will do so prior to submitting an Agreement of
Purchase and Sale or Letter of Intent.
We agree to return all documentation provided herewith, including the CIM, and any notes or copies made thereof if we decide not to pursue or complete this
opportunity. We also agree not to use the information provided in any way detrimental to the vendor (or any parties assisting the vendor), either before or after
cessation of our pursuit of property purchase. The provisions of this Agreement are binding on our successors or assigns.
We acknowledge that the CIM and the other information being delivered to us with respect to the Property is subject to the limitations on liability and disclaimers
for the protection of the vendor and CBRE contained in the CIM.
We agree to indemnify and save harmless the vendor and CBRE from any claims, losses, damages and liabilities whatsoever (including legal fees on a
substantial indemnity basis and disbursements) arising out of a breach by us or any of our representatives of any of the terms or other provisions of this
Agreement. CBRE and the Vendor also reserve the right not to release information.
The buyer agrees to continue to work through the Land Services Group at CBRE Limited for the above-mentioned property including offers within 12 months
after the expiration of the Listing Period, so long as the buyer wishes to make any offer within said time-frame and the buyer was introduced to the Property
during the Listing Period or shown the Property during the Listing Period, which the Buyer has acknowledged by signing below.
The buyer agrees that any signage CBRE has installed on the Property shall remain for a period of 6 months after the closing period. The buyer agrees that
any and all communication with regards to this property shall be done so through CBRE. The buyer and/or their representative will not at any time contact the
vendor directly.
CBRE is exclusively representing the vendor and will not act on behalf of any potential purchasers. With the execution of this Confidentiality Agreement, the
undersigned acknowledges that they are undertaking this investigation of the Property at their sole risk and expense and that under no circumstances will any
amounts expended by the undersigned for its due diligence investigation or review be paid or reimbursed by the vendor or CBRE. A digitally submitted or a
scan of a signed copy of this Agreement shall be deemed to be an original signed copy.
THE SECTION BELOW MUST BE COMPLETED AND SUBMITTED TO MEG.MCCALLUM@CBRE.COM IN ORDER TO RECEIVE THE DUE DILIGENCE PACKAGE
(I possess the authority to legally bind the Corporation)
†
PROPONENT NAME: REPRESENTATIVE:
†
COMPANY: COMPANY:
†
PRIMARY EMAIL: PRIMARY EMAIL:
SUBMIT
CA
PRIMARY PHONE #: PRIMARY PHONE #:
The button above can be
ADDITIONAL EMAIL: DATE: clicked to submit the CA
electronically using the
Adobe Reader application,
ADDITIONAL PHONE #: SIGNATURE: once the required fields
have been filled.
†
Please indicate if you would like a follow up call or meeting: OR
DATE:
Please print, complete, sign
† CALL: MEETING: and scan an email copy to
PRIMARY SIGNATURE: meg.mccallum@cbre.com
†
REQUIRED FIELDS. **Broker, *Sales Representative
This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the
accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information
should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market
at any time without notice or obligation to the recipient from CBRE.You can also read
