PT LOT 25 PLAN 363 & PT LOT 7 CONCESSION 3, milverton - sold

PT LOT 25 PLAN 363 & PT LOT 7 CONCESSION 3, milverton ON,

mls # 40275124

A unique opportunity on the South end of Milverton, this 81-acre property also has potential commercial and residential development use. Adjacent to the Settlement boundary of Milverton, an official plan amendment or the Perth County Official Plan Review underway may provide for residential development opportunities.

The Watson and Associates Economists Ltd. report commission in April 2020 by Perth County identified a deficit of 207 units in Milverton’s urban serviced area and will require 32 gross acres of urban residential land to meet the housing requirements of the next 25 years.

The current Perth County Official plan designates approximately 12.39 acres along Perth Road 131 as Urban Fringe suitable for Highway Commercial use. Current property zoning designates the property as Agriculture (A) with the forested area zoned Natural Resource/Environment Zone Two (NRE2).

The Watson and Associates Economists Ltd. identifies the property as a good candidate for expansion of Milverton's residential land - the report can be found online: https://www.perthcounty.ca/en/doing-business/resources/files/County-OP-Review/Perth-County-Comprehensive-Review_Final-Report.pdf. Buyer to complete own due diligence pertaining to future use and zoning. Farmland is rented year to year.