173 St Margaret's Bay Road

Key facts

• Property type: Other
• Transaction: For Sale
• Price: $2,899,900
• Lot size: 0.7494
• Year built: 1909
• Listing key: 29526010

Listing overview

Positioned on a generous parcel along sought-after St. Margarets Bay Road, this rare offering presents a compelling blend of immediate income, approved development potential, and long-term upside. The historic residence known as Craigmore sits on a property now supported by an approved Development Agreement, enabling subdivision into five distinct lots and the construction of a luxury duplex, a substantial three-unit townhome, plus the opportunity to add an additional unit by converting the existing detached garage. Importantly, the Development Agreement predates the Housing Accelerator zoning changes, offering prospective purchasers the potential to explore enhanced density options as planning policies evolve. The existing structure is a legal over-under duplex with established tenants, providing stable holding income while future plans are realized. Steeped in local history, Craigmore...