CALEDON EAST — A 150-acre farm in rural Caledon East (pop. 60,000), north of Brampton, sold to a Greater Toronto Area developer for $97 million. That’s a whopping $646,000 per acre.
The land was owned by Randy McLeod, the former president of the Peel Federation of Agriculture, who confirmed the sale with the Caledon Enterprise. It was purchased by housing developers Metrus Properties.
The sale blows out last year’s sale that is considered the largest active farm sale in Canada. An 8,000 acre-farm in Saskatchewan, complete with house, barns, grain bins and a fleet of tractors was sold for $26.5 million to a group of Hutterite families.