Saskatoon Land develops land parcels suitable for both heavy and light industrial. All properties are serviced (i.e. sewer, water, utilities, curbs, paved roads ). Purchasers are responsible for private connections into the lot.
Industrial lots are located to provide prospective buyers (and their tenants, employees and customers) with convenient access to the key transportation corridors linking Saskatoon to markets north, south, east and west.
Saskatoon Land currently has lots available for heavy and light industrial. Click on the property listing for a sales map, zoning, servicing details, pricing, terms of sale and more.
Industrial Land Incentives Program
When looking to grow or relocate, many successful businesses face a common dilemma—how to finance both the cost of industrial land and the cost of constructing a building on the land?
The Industrial Land Incentives Program offered through Saskatoon Land makes it easier for businesses to establish a new operation or expand an existing operation in the city. The program defers the cost of land by offering a long-term lease at a low monthly rate. The rate is based on the City of Saskatoon’s cost of borrowing plus 1% and is locked in for 10 years.
As the qualified lessee, you have the option of purchasing the land at the market value in effect at the time of the lease agreement. To be eligible, you must commit to starting construction on improvements within three years of entering the lease agreement. In order to exercise the option to purchase, you must have completed a building foundation consistent with the nature of your operations.
Industrial Land Incentives Terms and Conditions
Term: 15 years, with option to renew for further 5 years.
Rate: City of Saskatoon’s 10-year debenture rate plus 1%. Rate is locked in for the first 10 years and then adjusted to the higher of (a) the new 10-year debenture rate plus 1% or (b) the current lease rate.
Option: The agreement contains option to purchase clause that allows purchase of the land at the market value in effect at the time of entry into the lease agreement. Option cannot be exercised until a building foundation is in place.
Improvements: Lessee must start construction on improvements to the land consistent with the nature of their operation within three years of entry into lease or the lease may be cancelled.
What You Need to Apply
To apply for the Industrial Land Incentives Program, the prospective lessee must submit a business plan that contains, at a minimum, the following details:
- background Information on the company.
- prospects for Saskatoon (including current employees and future expected employees).
- future growth plans.
- financing plan for building construction (letter from bank if already approved).
- estimated size of building and its location on the site.
- site and elevation plans for the building.
- estimated build timeline.
- plan to exercise the option to purchase under the lease.
Based on the business plan provided, Saskatoon Land will determine whether the applicant meets the objective of the policy and is eligible to enter into a long term lease.
The lease is assignable. However, please note that prospective assignees will be required to submit a letter to Saskatoon Land detailing the same information as the initial applicant to verify that they also meet the objectives of the policy.
Additional business incentives are available through (SREDA) Saskatoon Regional Economic Development Authority.