Ontario Northland Auctioning Building in Downtown North Bay

NORTH BAY, Ontario - March 27, 2018 - PRLog -- If you are looking to start a new business opportunity in the downtown core of North Bay, Ontario, now's your chance. The Ontario Northland Transportation Commission (Ontario Northland) is offering for sale the historic building located at 195 Regina Street, a central location on the corners of Regina and Oak Street East.

Originally built in 1908 to house the Temiskaming & Northern Ontario Railway (T&NO), the building was seen as a symbol of T&NO's economic importance to the community by connecting the city to the railway system across northern Ontario. The site holds a significant place in North Bay's history as a catalyst for economic growth in the region, first as a major transportation centre and now as a popular filming location in a city where award winning show Cardinal and Jerry O'Connell's Carter were shot.

The building most recently held a telecommunications service until they moved in 2015. The building has been maintained in its vacancy and is in good condition.

As can be seen in the pictures, it was designed and constructed in the Edwardian Style, featuring white limestone walls, a hipped roof, and a classical entrance with an arch framing the main doorway.

The property sits on an approximately 0.56-acre lot which includes 35 paved parking stalls. The building itself is approximately 9,559 square feet. The current zoning is C2, General Commercial Outer Core.

Erin Mullens, Legal Project Specialist with Ontario Northland, tells us that they "[look] forward to seeing new activity and business in this building, which will further contribute to Oak Street's renewal. This property could become a restaurant, a film production studio, an office building, or a service centre. The possibilities are endless and are very exciting to the City of North Bay!"

Before offering the property to the public, Ontario Northland first circulated it through Infrastructure Ontario's Realty Circulation Portal, at which time other ministries, agencies, municipalities, and any federal government agency could purchase or acquire the site. A duty to consult screening process was completed before the property was offered for auction on GovDeals.ca.

This will be Ontario Northland's first auction on the e-commerce website, which was created specifically and exclusively for government entities to sell their surplus assets, thus providing a national buyer base for this real estate auction.

The auction for the property at 195 Regina Street, North Bay, ON ends on Thursday, April 5^th, 2018. The minimum bid amount at the time of print was $350,000. Bidders are required to submit a $5,000 bid deposit to place a bid, which is then refunded to all but the winning bidder.

Buyers interested in bidding on the building can register online with GovDeals. Registration is free and can be completed at www.GovDeals.ca/Register.

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About GovDeals and Liquidity Services, Inc.

GovDeals, Inc. is a subsidiary of Liquidity Services. Liquidity Services employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Our superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 11,000 clients worldwide. With nearly $7 billion in completed transactions, and 3 million buyers in almost 200 countries and territories, we are the proven leader in delivering smart e-commerce solutions. Visit us at LiquidityServices.com.

Media Contact:

Angela Jones
Marketing Communications Specialist
GovDeals, Inc.
ajones@govdeals.com