149 WELLINGTON STREET, London East (East K)

$8,250,000

For sale: Vacant Land

Vacant Land at 149 WELLINGTON STREET, London East (East K)
Property type
Vacant Land
MLS®
MLS® X13137662
Neighbourhood
East K

Shovel-Ready Development Opportunity in SOHO Downtown London.Rare opportunity to acquire a premier high-density development site in the heart of Downtown London, Ontario. This approximately 1.1-acre parcel is ideally positioned beside the Convention Centre and just steps from the Transit Station, restaurants, entertainment, and major downtown amenities.The property comes with approved site plans for an impressive 18-storey mixed-use residential tower featuring approximately 270 residential units and 5 ground-floor commercial units, with a total gross floor area of approximately 278,000 sq. ft.Under the City of London's new Official Plan and TSA zoning framework, there is additional potential to increase density by approximately 30 residential units and an additional 39,000 sq. ft. of GFA.There is currently an existing building on the site leased to a restaurant tenant, generating interim rental income.This is a versatile opportunity suitable for either a condominium development or a purpose-built rental project in one of Southwestern Ontario's fastest-growing urban centres.

Sold data

Vacant Land homes in London East (East K) — recent sold market

Vacant Land homes in London East (East K) took a median of 33 days to sell over the last 365 days, with the quickest quarter selling within 15 days and the slowest quarter taking more than 68, across 64 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.

The median sale price was $649,900.

Homes sold for about 2.1% below asking on average, so there was room to negotiate.

About 11% of sales closed above the list price.

Around 17% of sellers reduced their price before finding a buyer.

Median days to sell
33
Median sale price
$649,900
Sale-to-list ratio
97.9%
Sold above asking
11%

Based on 64 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in London East (East K)

London East (East K) has 116 Fraser Institute–rated schools (97 elementary and 19 secondary), averaging 5.5/10.

Rated schools
116
Elementary
97
Secondary
19
Average rating
5.5 / 10

Top-rated schools in London East (East K)

  • John Dearness — elementary, LondonFraser rating 9.8/10
  • St George — elementary, LondonFraser rating 9.1/10
  • Jack Chambers — elementary, LondonFraser rating 8.8/10
  • Sir Arthur Currie — elementary, LondonFraser rating 8.8/10
  • London Central — secondary, LondonFraser rating 8.7/10
  • Ryerson — elementary, LondonFraser rating 8.7/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 149 WELLINGTON STREET