The predecessor of the taxpayer bought an 18-acre parcel of land in 1965 with the intention of using it for an anticipated future expansion of its pharmaceutical business, and sold the parcel in 1988 (and bought a 62-acre site further to the west to meet his future expansion requirements) after realizing that the 18-acre site (which in the meantime had remained vacant) was inadequate for its expansion requirements.
In finding that the parcel did not qualify as a "former business property", Bowman TCJ. stated (at p. 1164) that:
"It was intended to be used, it was waiting to be used, but in any meaningful sense of the term it was not being used."