Zorra completes agreement to purchase Maple Leaf Foods Inc. Thamesford site
The Council of the Township of Zorra is pleased to announce it has finalized an agreement of purchase and sale with Maple Leaf Foods Inc. for the Township to acquire a 121-acre parcel of land in Thamesford. The parcel of land includes two existing industrial processing plants, office buildings and an industrial/residential draft plan of subdivision. Purchase price for the property is $5,960,000.
Maple Leaf Foods announced in November 2016 the Thamesford facility would cease production in early 2018 impacting 400 workers. The Township and Rural Oxford Economic
Development Corporation (ROEDC) immediately began strategizing how to mitigate the impact on the municipality and the specter of large vacant industrial buildings in Thamesford’s core. The Township and ROEDC explored many options over the past 18 months and through its due diligence determined there was potential for the municipality to purchase the property and sell off distinct parcels to interested parties. The municipality sought development proposals for eight separate parcels and in response the Township has received signed offers of purchase and sale for three of the parcels and is in negotiations for three additional parcels.
Read the full news release here.