Commercial real estate investors are very interested in vacant land for sale in and around Penhold, AB.
A short drive south of Red Deer City, ten minutes from the regional airport, and known as ”The Home of Future Generations”, Penhold is a welcoming, family oriented town in Central Alberta that relies on agriculture as the major contributor to its economy.
Despite being a small community offering the feeling of real country living, Penhold is just a short commute to the larger towns and cities in the area, and can boast an immediate trade area of some 270,000 people, with 2 million people caught in a 150km radius from the town that includes the major cities of Edmonton and Calgary, along with their international airports.
Sitting on the quieter Highway 2A, Penhold manages to retain its small town charm without losing any convenience in its location, and has nurtured a vibrant population of community spirited young families who regularly involve themselves in local volunteer projects and campaigns. With such an atmosphere in the town, Penhold is the perfect place to start a family, or search for real estate land for sale with a view to starting a business, or both.
The current population of Penhold sits at around 2,800, a figure that was only half as high as recently as 2001, with the 25-34 age range the biggest demographic. It is a figure that represents a prime market for recruiting and retaining local people to work with a new local business that may grow out of purchasing local real estate land for sale.
As well as the growing population, economic development is also thriving in Penhold, as evidenced in the rising value of building permits issued annually. Around $18,700,000 was taken in 2013, but this figure was dwarfed in 2014 as the value almost doubled to around $35,000,000, and the trend has continued into 2015, where the figures for January alone were $113,000 up on the same period for 2014.
Further expansion of Penhold is in the pipeline, especially to the east of Highway 2A, meaning the opportunity for businesses to invest in real estate land for sale and join those already thriving there is set to grow along with the number of residents.
With Alberta’s highly competitive provincial tax laws further helping those who are looking to enter the commercial property market or purchase real estate land for sale, investors in Penhold can enjoy not being required to pay provincial retail sales tax, provincial capital or payroll tax.
Despite being one of the smaller towns in the Central Alberta “Region of Opportunity”, commercial real estate listings for Penhold property and the planned expansion projects show the potential that exists there, while the progressive nature of the town and its residents mark Penhold out as a prime location for investment in existing commercial property or considering real estate listings of land for sale.
Want more information?