The World’s Biggest Bookstore at 20 Edward Street, near Yonge and Dundas, is being sold to residential and commercial builder Lifetime Developments.
Indigo Books and Music holds the current lease on the building, but it will run out at the end of the year. The store will be closing in February, according to the Toronto Star.
“We’re acquiring it soon. We don’t have any finalized plans or intentions with the property,” Brian Brown, vice-president of Lifetime Developments, told The Star.
Other big name projects that Lifetime has brought to market in downtown Toronto include the Four Seasons, Bisha Hotel and Residences, INDX Condos and The Bond Condos. The developer has also played a large role in developing Liberty Village with Liberty Market Lofts and Liberty Market Tower.
While it may not have attained Toronto landmark status in the same way Honest Ed’s (sold to Vancouver developer Westbank earlier this year) and Sam The Record Man did, the World’s Biggest Bookstore brought in the tourists with its iconic signage.