8108 & 8134 Yonge Street in Vaughan 2 biens | Local commercial | Localisations multiples

CBRE’s Land Services Group, on behalf of Vector Financial Services Limited, is pleased to offer for sale 8108 & 8134 Yonge Street (collectively known as the “Property” or “Site”) in the City of Vaughan. Sitting on 1.6 acres at two prominent corners on Yonge Street in Thornhill, the Property represents a prime investment opportunity with future redevelopment potential given the Site’s size, configuration and land use designation allowing for high density redevelopment. In addition, given that the building at 8134 Yonge Street is vacant, the offering provides a unique opportunity for a user to occupy the Site while generating holding income from the plaza at 8108 Yonge Street that is currently 85% tenanted. The Property is designated within the Yonge Steeles Corridor Secondary Plan (North) as Mid-Rise Mixed-Use and is also part of the Royal Orchard Subway Station Protected Major Transit Station Area (PMTSA #19) which allows for greater heights and densities as of right given proximity to current and future transit options. Within the PMTSA, the minimum density target is 250 people and jobs per hectare (101 people and jobs per acre). These areas are to be developed as transit-oriented neighbourhoods with a diverse mix of residential uses and supportive non-residential uses. As part of any future redevelopment, the purchaser has the ability to potentially capitalize on the current policy that reduces the municipal Vaughan development charge rate so long as a Draft Plan and/or Site Plan application has been approved by November 2029. In November 2024, the City of Vaughan implemented a reduction in DCs across all residential type developments1, reducing them to 2018 rates, providing a significant opportunity for potential cost savings on the redevelopment of the Site. The Site benefits from being nearby a variety of local and regional amenities as well as transit options, including the YRT bus and Langstaff GO Station that is a 7 minute drive away, as well as being 2 minutes from Highway 407. In addition, Metrolinx has just awarded the contract to
begin tunnelling for the construction of the Yonge North Subway Extension of Line 1. Currently terminating at Finch Station, the extension will bring the TTC subway north to ighway 7 along Yonge Street, with a stop at Royal Orchard which is less than a 5-minute walk from the Site. The offering is ideally located within the thriving Thornhill community and given the existing conditions provides for both an investment and user opportunity with significant redevelopment potential in the future based on as-of-right land use policies.