149 WELLINGTON Street

About this home

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.

Details

Type

Vacant Land

Lot

237.43 × 191 ft

Garage

None

Kitchens

0

Property tax

$33,900 (2026)

Neighbourhood

East K

Municipality

London East

Interior

Fireplace

No

Heating, cooling and services

Water and sewer

Sewer

Building and exterior

Faces

East

Lot

Size

237.43 × 191 ft

Acreage

.50-1.99

More

Possession

Immediate

Cross street

Located on the south-west corner of Wellington St. & Grey St.