Brunswick Brokers Limited is pleased to announce the sale of 60 Technology Drive in Saint John, New Brunswick. Somerset Investments Ltd purchased the 10.77 acre parcel of land as part of a land amassment effort. They already owned adjacent land. The addition of this parcel brings the total area for development by Somerset Investments to just shy of 34 acres. Located to the north of the city and just off Somerset Street, the site is just minutes from the city centre well as the Saint John Regional Hospital.
With permission from the previous owner, Somerset Investments had put forward a proposal to Saint John city council to construct between five and six buildings with up to 500 units on Technology Drive. In September 2021, Saint John council gave final approval for the proposed high rise residential development. The closing took place on January 4th, 2022. According to Melanie Dowd of Somerset Investments “We are very excited about the potential that this large track of land holds. The elevation of the site provides the possibility for some amazing views of both the city and the Kennebecassis River.”
Stephanie Turner of Brunswick Brokers Limited brokered the deal between Commercial Properties Limited (seller) and the buyers Somerset Investments.
Interested in land for multifamily or other development? Contact Stephanie Turner by phone at (506) 333-3442 or by email at sturner@bbrokers.ca
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