$3,200,000
For sale: Vacant Land

Centrally located 8.5-acre development parcel in the welcoming West Perth community of Mitchell. At least 4.5 developable acres, subject to an EIS to be completed by Buyer at time of planning applications. Potential reduction of manmade pond to be assessed as part of such EIS. 5 concept plans in place by the Sellers' consultant for a mix of 8 single family lots, 28 bungalow townhouse units, 72-80 stacked townhouse units, or a 6-storey, 94-unit apartment building. New concept/site plans could be developed by Buyer at time of planning applications. Relatively short term development window is possible. Roughly $200,000 has already been spent by the Sellers on bringing utilities (except hydro) to the Napier Street lot line. Sanitary sewers are readily connectable. Support from the Municipality of a possible second entrance to this parcel via Henry Street. Close to golfing, walking trails, parks, medical centre, schools, and shopping. Located 12 miles east and west from hospitals in Seaforth and Stratford. Roughly 20, 40 and 45 minutes to Stratford, London and Kitchener, respectively.
Sold data
Homes in Mitchell took a median of 39 days to sell over the last 365 days, with the quickest quarter selling within 15 days and the slowest quarter taking more than 98, across 65 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.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 $575,000.
Homes sold for about 1.5% below asking on average, so there was room to negotiate.
About 18% of sales closed above the list price.
Around 32% of sellers reduced their price before finding a buyer.
Based on 65 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.
Currently for sale

$2,899,000
Vacant Land333 KING GEORGE ROAD W, Brantford

$3,499,000
Vacant Land976 HWY 52, Ancaster, Hamilton

$2,749,900
Vacant Land109-113 INKERMAN STREET, St. Thomas, St. Thomas

$2,240,000
Vacant Land553 UPPER QUEEN STREET, South P, London South

$3,499,999
Other309-311 HAWTHORN STREET, Waterloo

$3,200,000
Other1720 GORE ROAD, East P, London East

$3,000,000
Other5653 COLONEL TALBOT ROAD, South GG, London South

$2,499,000
Multiplex58 MADISON AVENUE N, Kitchener