Property consists of a licensed restaurant/bar as well as a separate two-storey house containing 2 - 3 bedroom apartments situated on approximately 10 acres just seconds from the proposed hwy 404 terminus. Both apartments are presently rented out and the licensed premises have been in operation since August 2006 under the owner`s supervision - the sale price includes restaurant equipment, juke box, tables and chairs, three televisions and the pool table. Most of the 10 acre property is undeveloped but some of the uses proposed locally for its development include additional rental housing, efficiency motel or cabins for use during ice fishing season.
"The Land Transfer Tax in Cannington, Ontario based on the selling price of $499,000.00 is $6,455.00."
* See the land transfer tax formula for Ontario
+ $0 to $55,000.00 - land transfer tax is 0.5% + $55,000.00 to $250,000.00 - land transfer tax is 1.0 + $250,000.00 to $400,000.00 - land transfer tax is 1.5%
$400,000.00 and up - land transfer tax is 2.0%
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