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Court-ordered development site sale sees strong pricing

Sale price averages $1.3 million per acre
9720-229-street-nw-edmonton
The first of four development sites in Edmonton's Secord neighbourhood sold August 22 through a court-ordered process for just over $3 million.

DEAL | Avison Young represented the vendor in the court-ordered sale of a 2.33-acre commercial development site in the Secord neighbourhood of West Edmonton. The lot at 9720 229 Street NW is one of four Avison Young has brought to market; the three remaining development-ready lots range from 3.14 acres to 4.19 acres. The lots hold CN (neighbourhood commercial) zoning per the Secord Neighbourhood Structure Plan, but the City of Edmonton supports rezoning the remaining lots for row housing or medium-density residential development. The sale closed August 22 for $100,000 above asking.

PRICE | $3,012,500

FROM | Reed Newnham, Darren Snider and Jandip Deol, Avison Young