Sale of City owned land to Guelph Land Holdings Inc. (GLHI) closed yesterday and the City received an adjusted payment of $5,259,205.61. This amount represents the negotiated purchase price of the land less the cost to purchase fill material from Cooper for Phase 1 of the Hanlon Creek Business Park. The total acreage sold to GLHI is approximately 64 acres. These lands will be developed by GLHI for employment purposes. The return on this investment on the sale of this land is 52%.
Sale of Land in Hanlon Creek Business Park
March 2, 2011
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