Massey Ferguson Building Redevelopment | ?m | 6s | Rise Real Estate | WZMH

[IanO]

The entire site is ~50m x 150m not sqft... or

 

[archited]

When the site was apportioned into lots the British system of measurement was the standard and you will notice that the realtor indicated the site was +/- 75,000 square feet. I believe the lots here are 150' deep which would mean that the frontage would be 500'; I did however, err in the length takeoff and I believe that it includes the entire block minus the historical portion of the Massey Ferguson site. That said this is all guess-work until someone can state the property size for certain.

 

[Barnaby]

Can we be assured that the historic facade of this building can be preserved? Losing it would be a tragedy.

 

[Barnaby]

I'm not too knowledgeable on this as much, but would the fact it's a foreign buyer (German REIT) make it likelier that the property is developed or less?

REITs don't hold vacant land long term. They're also much less shaky from a capital perspective than traditional developer, atleast when you're on the outside looking in.

This is the kind of project that could be fully built out in a single large stage, if it is a REIT as @IanO believes.

 

[strata]

Sounds like the land is currently pending with a German group, short conditional period as well.

Can confirm it was the German group.

 

[Glenco]

When the site was apportioned into lots the British system of measurement was the standard and you will notice that the realtor indicated the site was +/- 75,000 square feet. I believe the lots here are 150' deep which would mean that the frontage would be 500'; I did however, err in the length takeoff and I believe that it includes the entire block minus the historical portion of the Massey Ferguson site. That said this is all guess-work until someone can state the property size for certain.

I believe you are correct if that block had 10 lots each 50ft wide and 150ft long which was pretty standard for the day.

 

[Kosy123]

Here's hoping we get something decent built here. If it's a REIT that wants to move quick, then I have full faith in the power of German efficiency to get it done lol

 

[Gus Haynes]

Can confirm it was the German group.

Kraftwerk? Rammstein? Hasselhoff?

 

[The_Cat]

I thought Kraftwerk was more into Autobahns,

 

[Gus Haynes]

♪Fun fun fun on the Massey Ferguson.♪

 

[MacLac]

Kraftwerk? Rammstein? Hasselhoff?

I call it the “Draisaitl effect!”

 

[VaultBoy]

I hope that this foreign company wants to build a tower here

 

[MacLac]

For $11.5M - either they want to sit on it and flip and make $100 bucks profit OR they want to build something big and expensive. I would assume that clapboard 6 storey framers would behoove themselves from utilizing the purchase to it's full potential......

 

[Offworld]

I'm not too knowledgeable on this as much, but would the fact it's a foreign buyer (German REIT) make it likelier that the property is developed or less?

I could be wrong, but doesn't a German fund own the City Centre mall? If so, take what you will from that land play?

 

[Kosy123]

I could be wrong, but doesn't a German fund own the City Centre mall? If so, take what you will from that land play?

I just searched it up and it seems like La Salle owns it on behalf of a Bavarian pension fund so you're right. Hopefully an empty lot is different circumstances rather an already existing asset.