Baking store owner gets $8 million for land sale

Posted February 10, 2019 07:23:53 The owner of a popular bakery in a wealthy Toronto suburb is getting a $8.4-million settlement for a land sale.

The Landmark Bakery, located at the corner of Queen Street and Wellington Street, sold for $6.6 million to a company that plans to turn it into condos and apartments.

The sale is a landmark for Toronto-area real estate, said lawyer and developer Alan Bourgeois, who represented the seller, The Bourgeois Group, which has offices in the city and its suburbs.

The land sale was part of the company’s efforts to expand its footprint and create new business opportunities, he said.

Bourgeois said the company intends to build apartments and condos on the site, which is now part of a residential development that includes a hotel and a grocery store.

The company plans to begin leasing the land in 2019, he added.

The bakery is a staple of the Queen Street neighbourhood, with a community of about 200 residents.

It is one of the few bakeries that still makes traditional, unprocessed bread.

The store also sells homemade and artisanal bread.

Bourgeois said his client is the “face” of the bakery.

“I have no idea what is going on with him.

I know it’s not normal,” Bourgeois told The Associated Press in a phone interview.

“I don’t think it’s his business.

He has nothing to do with it.”

Bakery owners in Toronto have long had to navigate a tight legal environment in which owners are required to make their business profitable, even if it doesn’t sell as many products as they want to.

A bakery’s financial performance has become an issue in recent years.

In 2017, a group of Toronto-based bakeries filed for bankruptcy protection after a lengthy court battle, arguing they couldn’t meet their financial obligations to customers.

The bakery case was settled in 2019 after the owners agreed to pay out $1.2 million, which the city of Toronto provided in return for giving them more time to comply with its regulations.

The settlement will help compensate the bakeries for the economic impact of the lawsuit, Bourgeois added.

It is common for bakeries to close as a result of litigation, Besson said, noting that there are a handful of bakeries left in the Toronto area that sell their bread at market rates.

He said it’s unclear whether the bakerys’ bankruptcy would have a financial impact on the bakery, as there could be a “very limited” number of bakerys left in Toronto.

There are no plans to reopen the bakery at any point in the near future, he noted.

Bacon bread is a popular item in Toronto bakeries, especially in the summer months when temperatures are in the mid-30s, Besse said.

This story has been corrected to show that the baker’s name is Alan Bessons.

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