It won’t take long now.
Central Elgin engaged London realtor Bruce Thomas on October 20, 2021 to sell two landmark properties in Port Stanley. CE Director of Asset Management and Development Lloyd Perrin says there have already been some expressions of interest.
The old firehall at 218 Joseph Street and the former Green Roof Restaurant at 4980 Sunset Road are likely to sell quickly, and for good money. All offers must be received by 10 a.m. on December 7, 2021.
“Real estate in Port Stanley is popular and the market seems to be aggressive considering what we know,” said Perrin. “Real estate in Southwestern Ontario is very busy and that is evident in the length of time that properties are listed.”
Perrin said besides the ‘for sale’ sign on the properties, they will also be promoted on realtor.ca, as well as through “a targeted email campaign to targeted commercial realtors, developers and investors, including buyers that are outside the area.
“This is meant to gain as much interest in the properties as possible and allow the municipality to realize the largest return on investment for Central Elgin residents,” he said.
For 218 Joseph Street, the municipality has set an asking price of $699,900. The iconic property next door to the Kettle Creek Inn has over 4,500 sq. feet of space. The concrete-block building is on a 36’x128’ lot, with eight parking spaces. Present zoning allows retail, restaurant and office uses, with second storey residential.
“So much potential and very rare opportunity to acquire one of downtown Port Stanley’s nicest buildings,” according to the realtor.ca listing.
The asking price for 4980 Sunset Drive – formerly the Green Roof Restaurant – is $799,900. It’s a 1.85-acre lot, with 730 feet of frontage on Sunset, with municipal sewage and water.
While the properties are likely to move quickly, it wasn’t easy getting them to market.
“ … In September, Central Elgin posted a bid call for the selection of a realtor to list the two properties which are currently for sale,” said Paul Shipway, Central Elgin Chief Administrative Officer and Clerk.
“Bids were posted to the municipality’s online bidding platform Bids and Tenders which allowed interested parties the opportunity to submit their qualifications until October 5, 2021,” added Shipway. “Upon closing, no qualified bids were received.
“The Municipality immediately began looking at alternative methods to engage the services of a qualified realtor,” said Shipway. “Information was posted to Central Elgin’s main website and to its Facebook page to let realtors know there was an opportunity and to submit their qualifications and experience directly for review no later than October 20, 2021.
“Interested realtors were asked to provide their experience in general with a focus on commercial properties and approach, as well as strategies specific to the subject properties,” added Shipway. “Six realtors submitted their information to the municipality for review with Bruce Thomas being the selected realtor to represent the municipality for these transactions.”
Thomas was reluctant to comment on his role. “I think it is best if you reach out to Lloyd Perrin from Central Elgin to discuss.”