The County of Middlesex got $30 million for the historic Middlesex County building and the Middlesex London Health Unit building.
The County announced on Monday that it and York Developments have waived all conditions in order to finalize the sale of the properties at 399 Ridout St. and 50 King St. With the sale now final, the County was able to announce the price that York Developments paid for the properties. The County also announced that it has a lease agreement option to continue using the building at 399 Ridout at no cost until December 2024. There is an option to continue past that date.
"The sale of the Middlesex properties is an outstanding result for the residents of Middlesex County," Middlesex County Warden Cathy Burghardt-Jesson said in a statement released Monday. "Not only did we find a visionary and respected local purchaser and construction partner that placed a high value on the properties, we were also able to ensure that the maximum protections are in place for these historic properties prior to the sale. With the sale now complete, we can advance our service model to provide increased proximity for our residents, while at the same time continuing our investment in important Middlesex County infrastructure.”
The end of the conditional period also allows the development of the health unit building on King Street to proceed, as the health unit plans to relocate its offices to CitiPlaza. The statement from the county also said heritage aspects of the properties will continue to be protected through by-laws, as well as Heritage Act and easement protections that will "carry forward with the new property owners."
