Weston-owned company bidding on waterfront LCBO land, sources say
An investing vehicle run by the Weston's, one of Canada’s richest families, is among companies bidding on what may be Toronto’s biggest land deal, according to people with knowledge of the plans.
Wittington Properties Ltd. is in the running with at least two other companies to acquire an 4.5-hectare plot near the city’s waterfront owned by the Liquor Control Board of Ontario, the provincially owned alcohol retailer, said the people, who asked not to be identified because the bidding is private. The company is the real estate arm of Wittington Investments Ltd., which is 85 per-cent held by the Garfield Weston Foundation and the Weston family. The family’s patriarch, W.G. Galen Weston, is Canada’s richest person, with businesses spanning retail in Canada and Britain and a net worth of about $8.7-billion (U.S.), according to the Bloomberg Billionaires Index.
The province has said it expects the transaction to be completed by March 31.
I'm starting to think that the city or Waterfront Toronto don't care who wins, as long as there's a park and the buildings are kept below 50 storeys