Located at the southwest corner of Sherbourne Street and Wellesley Street East, this 0.30-acre site was
zoned for nearly 250,000 square feet of primarily residential gross floor area. With an approved height
of 35 storeys (116 metres), this development had the potential to drastically change the nature of this
The Land Services Group was engaged by Diamond Corp and the Kilmer Group on an exclusive
basis to manage the marketing and sale process of this approved residential development site. Our
team designed a customized marketing package highlighting the characteristics of this offering.
A high gloss, multi-page brochure was completed in addition to a comprehensive 36 page
Confidential Information Memorandum detailing the site, surrounding area, and other features
to attract purchasers to this opportunity. A targeted phone campaign was employed in order to
engage the top candidates in addition to numerous face-to-face meetings with potential purchasers.
A submission date was set 30 days after the marketing launch wherein first round bids were submitted.
Our efforts generated 6 offers from a range of qualified purchasers. Several of these parties were
shortlisted and asked to resubmit their best and final offers. The site ultimately sold to Alterra Developments
for $15,900,000. Alterra is currently building out the project, which is known as 159 SW+TOR, with
occupancy expected by the end of 2019.