The real estate market for industrial land in Chatham-Kent is red hot, and prices have sky rocketed for privately owned industrial properties.
At tonight’s Chatham-Kent Council meeting, the municipality’s Economic Development Services Department is recommending that council approve dramatically raising prices for lots in their industrial parks.
Economic Development is advocating for raising the asking price at Chatham’s Bloomfield Business Park from $50,000 to $89,000 an acre.
The report also recommends increasing to the price per acre of industrial land in the Blenheim Business Park from $29,000 to $45,000/acre and more than doubling the price in the Ridgetown Business Park from $15,000 to $35,000/acre.
Increasing the price for municipal industrial park land in Chatham-Kent would put it more in line with what neighbouring communities sell their industrial land for as well as privately-owned serviced industrial land in Chatham-Kent.
