Bombardier has announced that it hired Toronto-Dominion bank to find a buyer for its Downsview site. This 375 acre facility is located in the North York district, in central Toronto, and includes a 7.000 foot runway. Bombardier has announced that it was only using about 10% of the facility and would like to part with this “underutilized asset”.

The manufacturer is looking for another location with access to a runway, without having to support the whole airport as it is right now, with its firefighters and control tower. The sale is expected to be imminent, as the Canadian company is in dire need of cash after its investments in R&D.

The site has been in possession of Bombardier since the acquisition of de Havilland Canada, a former aircraft manufacturer who built the place as its headquarters and testing facility.

Several Bombardier models are currently assembled in the Downsview hangars, such as the De Havilland Dash 8, the Bombardier Global Express and the Global 5000.

The location and available installations have convinced several bidders in acquiring Downsview site, according to Bombardier president and CEO Alain Bellemare. An offer of 500 million Canadian dollars (382 million US dollars) has been made.

3.500 people are currently employed in Downsview facility, but Bombardier has stated that the sale of this facility would have no impact on Q400 and Global production. It could even be relocated somewhere near, such as Toronto’s main airport, Pearson International Airport (YYZ).