Sale Of LCBO Lands to Create Buying Frenzy?
The Ontario government generated buzz last week when it announced it’s seeking buyers for the 11-acre LCBO lands on the Toronto waterfront, with Infrastructure Minister Brad Duguid noting at a news conference he expects "significant competition" for the properties. The parcel includes the LCBO head office, warehouse, and Queens Quay store (pictured here). Prospective purchasers will go through an Infrastructure Ontario-run RFP process. Revenue generated from the sale will go into the province's Trillium Trust, which funds "priority infrastructure projects" like roads, bridges, and transit. The buyer must build LCBO a new head office facility and a new downtown retail store in the Queens Quay area. The location, replacing the existing outlet at 2 Cooper St, will be the LCBO's downtown flagship.
