The Property is currently improved with a 3-storey senior residence with at grade parking. The Property is available for sale as-is and will be sold subject to a short-term sale leaseback which will allow the vendor to conclude their business operations at the premises. The target leaseback term is 18-months, however all business terms to be negotiated. The Property can be retrofitted for an alternative use and is well suited for a residential addition/ redevelopment. Preliminary planning investigations undertaken by the Vendor indicate that the site can accommodate a 3-storey addition along the existing footprint of the building along with a new 6-storey component of the building closer to Royal York Road. The potential addition and retrofit would have a total gross floor area of 83,313 square feet and 118 residential units.