149 WELLINGTON Street
London East, ON
- Vacant Land
- 116 days on market
Shovel-Ready Development Opportunity in SOHO Downtown London.Rare opportunity to acquire a premier high-density development site in the heart of Downtown London, Ontario. This approximately 1.1-acre parcel is ideally positioned beside the Convention Centre and just steps from the Transit Station, restaurants, entertainment, and major downtown amenities.The property comes with approved site plans for an impressive 18-storey mixed-use residential tower featuring approximately 270 residential units and 5 ground-floor commercial units, with a total gross floor area of approximately 278,000 sq. ft.Under the City of London's new Official Plan and TSA zoning framework, there is additional potential to increase density by approximately 30 residential units and an additional 39,000 sq. ft. of GFA.There is currently an existing building on the site leased to a restaurant tenant, generating interim rental income.This is a versatile opportunity suitable for either a condominium development or a purpose-built rental project in one of Southwestern Ontario's fastest-growing urban centres.
Listing Details
- Taxes (2026)
- $33,900
- Originally Listed
- $1
- Listed
- May 15, 2026
Price History
Property
- Lot Size
- 237.43 x 191 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
Utilities
- Sewer
- Sewer
Location & Legal
- Cross Street
- Located on the south-west corner of Wellington St. & Grey St.
- Zoning
- BDC
- Parcel Number
- 083280160
- Possession
- Immediate
- Occupancy
- Tenant
Schools
Elementary
- St. John French Immersion School0.7 km
Catholic · London District Catholic School Board · 540 students
Grade 3 reading: 90% met the provincial standard · Grade 6 math: 58% met the provincial standard
- Tecumseh Public School0.9 km
Public · Thames Valley DSB · 345 students
Grade 3 reading: 74% met the provincial standard · Grade 6 math: 53% met the provincial standard
- Aberdeen Public School1.1 km
Public · Thames Valley DSB · 295 students
Grade 3 reading: 43% met the provincial standard · Grade 6 math: 33% met the provincial standard
Secondary
- London South Collegiate Institute0.9 km
Public · Thames Valley DSB · 880 students
Grade 10 literacy: 73% met the provincial standard
- Catholic Central High School1.1 km
Catholic · London District Catholic School Board · 1310 students
Grade 10 literacy: 89% met the provincial standard
- H B Beal Secondary School1.3 km
Public · Thames Valley DSB · 1525 students
Grade 10 literacy: 79% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N6B
- Population
- 11,101
- Private dwellings
- 7,181
- Median age
- 38
- Average household size
- 1.6
- Median household income
- $49,200
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in London East · last 12 months
- Median sold price
- $462,000
- Homes sold
- 1,324
- Median days on market
- 25
- Sale-to-list price
- 97.0%
Based on 1,324 recorded sales of residential freehold properties in London East over the last 12 months.
Listed by
CENTURY 21 LANDUNION REALTY INC.
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$1,650,000
Estimated Monthly Payment
$40,530
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $40,530/mo (20% down, 5.5%)
Taxes: $2,825/mo · Insurance: $2,063/mo
Estimates only. Consult a financial advisor.
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