An iconic hotel on Toronto’s waterfront is set to hit a new Canadian record for a property of its type. The Westin Harbour Castle is expected to be put on the market next week and could fetch between $350-400 million. With the low cost of the Canadian dollar and low interest rates it is likely to attract a lot of foreign interest and comes after the recent sale of the Westin Bayshore on Vancouver’s waterfront sold for $290 million. The Harbour Castle has 977 rooms but there is additional value in the deal with the potential to build an additional trio of towers.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: