5.00 ACLand$10,888,000Sale
$2M PRICE REDUCTION | 5-Acre Residential Development Site - Designated High Density Cluster 10-15 UPA Priced Well Below Assessed Value Overview - Opportunity to acquire a 5-acre development site with ability to expand the site area through assembly with the 3 neighbouring properties to the east which are 5 acres per lot. Two of the three neighbouring properties are also currently listed for sale (18190 & 18208 92nd Avenue) and therefore provides significant opportunity to assemble a 20-acre mixed-use residential development site. Improvements - The property is improved with a renovated, 5-bedroom, 3-bath, 7,200 SF rancher complete with indoor swimming pool and sauna, which is currently rented.
The Subject Property is located in a newly designated and supported urban development neighbourhood in Surrey, known as Anniedale-Tynehead. It is anticipated to accommodate approximately 20,000 residents in the future. The neighbourhood is strategically positioned to the south of Highway 1 and east of Highway 15. Currently, the area is predominantly zoned for agricultural use. The most recent Neighbourhood Concept Plan (NCP), approved by the Council in July 2022, has reclassified the land use for mixed residential purposes and authorized the staff to proceed with the processing of development applications. The use of the Subject Property is designated as “High Density Cluster 10-15 units per acre” under the guidelines. Several applications have already been submitted to the City in the immediate vicinity of the Subject Property (please refer to nearby development applications on the following page). There is currently a 5-acre site applying for a 110-unit condo development, and a 15-acre site applying for a 194-unit townhouse project.