A deal has been struck to sell a 7.6-acre parcel of land in the Hanlon Creek Business Park to an unspecified company so it can construct a new head office and commercial development.
In a report released on Friday, city staff highlight the pending sale, which remains conditional until Sept. 16 and is slated to close on Oct. 29.
“The purchaser … is a new business relocating to Guelph because of a new partnership with an existing Guelph business,” states the report.
Financial aspects of the tentative deal won’t be publicly released until the sale is finalized, the report notes. However, the asking price listed on the business park website is $3.23 million.
Funds raised through the sale will be put into the city’s industrial land reserve.
