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Bid History for Commercial Building for Sale - 195 Regina Street, North Bay, ON
Auction Start Date: 03/01/18 11:00 AM ET
Auction End Date: 04/05/18 3:33 PM ET
Asset ID: 2   Number of Bids: 75

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Commercial Building for Sale - 195 Regina Street, North Bay, ON

Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON  More media
Auction Closed
High Bidder: h*************m
Sold Amount: C $567,000.00
Tax (HST: 13.0000%): C $77,395.50
Buyer's Premium (5.00%): C $28,350.00
Total Price: C $672,745.50
View Bid History
Terms and Conditions

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Restriction:  $5,000.00 Bid Deposit Required - See Bid Deposit Instructions Attached
Condition Category
See Description Real Estate
Commercial opportunity in downtown North Bay. Landmark building in a central location, the building fronts on both Regina Street and Oak Street East. This property has been a popular filming location in the region.

Lot size: +/- 0.56 acre lot, including side and rear paved parking totaling 35 parking stalls.

Building size: +/-9,559 square feet

Current zoning: C2, General Commercial Outer Core

Current lease: 759 square feet leased at an annual rate of $13,662.00

12 month notice period required under the current lease. If at the time of the closing , the 12 month notice period has not expired or the Lessee has not otherwise vacated the Property and terminated the lease, Ontario Northland Transportation Commission (ONTC) shall assign its interest in the Lease to the Buyer.

A lease for additional parking may be available, if required.

ONTC and the bidder may enter into a shared maintenance agreement for the maintenance and winter control of the parking lot included in the Property.

Please see the attached Asbestos Assessment and Asbestos Management Program document and Phase I Environmental Site Assessment.

ONTC may accept or reject any bid for whatever reasons it may, in its absolute discretion, consider appropriate. ONTC reserves the right to negotiate with any bidder and to undertake concurrent negotiations with different bidders. ONTC also reserves the right to cease accepting bids for the Property at any time.

ONTC will accept the offer which represents the best value. Factors considered in determining the value of an Offer to Purchase to Ontario Northland include, but are not limited to: the Purchase Price, any conditions set out in the Agreement of Purchase and Sale by the Buyer and the time frame for completion of the transaction. For greater clarity, the highest Purchase Price will not necessarily be accepted by ONTC.

Final sale is subject to Commission approval.

While it is understood that bidders may want to attach conditions to any bid they may submit, it is anticipated by ONTC that the form of bid itself will not be amended and that any such conditions would be attached by way of schedule(s) to the final bid.

ONTC will not pay any commissions to any real estate agents in connection with the sale of the Property. To the extent that a bidder has retained the services of a real estate agent, any amount alleged to be owed to such agent shall be the sole responsibility and liability of such bidder, unless ONTC specifically agrees otherwise in writing.

This Auction represents the negotiation process to finalize the price the winning bidder is offering to pay. The winning bidder agrees that all items listed in this auction as above are included in the sale.

Ministry guidelines have been followed for the auction of this property.

Please read and understand Inspection, Payment, & Special Instructions prior to bidding.

Additional Info: AGR Agreement of Purchase and Sale 2018-03-05.pdf,   Bid Deposit Instructions - ONR Real Estate.pdf,   Ph I ESA RPT FINAL 195 Regina Street (27Oct201.pdf,   Asbestos Assessment and Asbestos Management Pr.pdf,   Detailed Spec Sheet.pdf
Seller InformationSeller Information
view other auctions from Ontario Northland Transportation Commission - Real Estate
Seller Name: Ontario Northland Transportation Commission - Real Estate
Asset Location: 195 Regina St
North Bay, Ontario P1B 2J6
Map to this location
InspectionInspection

Inspection is by appointment only.  Please click "Ask a Question" to schedule an appointment.  Bidders showing up without a scheduled appointment will not be granted access.

PaymentPayment
Wire Transfer
Wire Transfer is the only payment option for this item. The Wire Transfer Transaction Summary page will provide payment and account information. The Wire Transfer must be completed within 5 days.

The Wire Transfer Instructions listed above are overridden by the Payment instructions below and the bid deposit instructions attached. Wire Transfer is NOT a payment option.

Bid Deposit of $5,000.00 is required to place a bid. A further Deposit of $15,000.00 is required upon acceptance of the Agreement of Purchase and Sale.

The Buyer will be required to pay the balance of the purchase price, subject to adjustments and any applicable taxes, by certified cheque, to the Seller on the completion of this transaction.

The Buyer will also be required to pay the Buyer's Premium plus HST, by certified cheque payable to the Seller on the completion of this transaction.

Payment to be made to the Seller in accordance with the established closing date.

MediaMedia
Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON Commercial Building for Sale - 195 Regina Street, North Bay, ON
Special InstructionsSpecial Instructions
NOTICE: If you are the winning bidder and default by failing to adhere to this sellers terms and conditions your account with GovDeals WILL BE LOCKED.



Guarantee Waiver. All property is offered for sale in a “AS IS, WHERE IS” condition, which shall include, but not be limited to, any environmental issues, unregistered easements, right-of way, liens, restrictive covenants, restrictions, encroachments, or encumbrances affecting the Property and assume responsibility for satisfying all obligations of Ontario Northland Transportation Commission (Seller) relating to the property and Improvements.

The Seller makes no representations or warranties of any kind, expressed or implied, as to the condition of the soil, the subsoil, the groundwater and surface water, or any other environmental matters respecting the property whatsoever, including the use to which it may be put and its zoning.

The Buyer is not entitled to any payment for loss of profit or any other monetary damages – special, direct, indirect or consequential.



Property Dimensions. The dimensions of the property offered for sale are an estimate only and the actual dimensions will be confirmed prior to completion by a reference plan. Any adjustments in the dimensions of the property following the reference plan shall not result in an adjustment to the purchase price unless agreed otherwise by the Parties in the Agreement of Purchase and Sale.

Questions and AnswersQuestions and Answers
Q: What are the property taxes on site and the average commercial vacancy rate in area. (3/1/18 5:05 PM)
A: We are unable to provide the property tax amount as 195 Regina Street is part of an assessment roll that includes a large parcel of land. Also, depending on the purchaser and their intended use of the property the Property Tax Class will change, which will effect the tax rate. With regards to the commercial vacancy rate, please conduct your own due diligence. Thank you. (3/2/18 1:38 PM)

Q: Does the building come complete with any and all items shown in the pictures or any items not shown in pictures? (3/6/18 1:14 PM)
A: Please see the Agreement of Purchase and Sale attached to the auction page for the Chattels Included and the Fixtures Excluded. This document has been updated. Thank you. (3/7/18 9:34 AM)

Q: How old are the boilers? (3/21/18 9:17 AM)
A: The boilers are 18 years old. (3/21/18 9:31 AM)

Q: There is a “rain bird” panel in the basement, is the property equipped with an irrigation system? (3/21/18 9:17 AM)
A: Yes, the building is equipped with an irrigation system. (3/21/18 9:31 AM)

Q: The building is equipped with a security fob access system. Will the equipment remain on closing? (3/28/18 4:13 PM)
A: The equipment that is located at 195 Regina St. will remain. It will be the responsibility of the buyer to contract with a company to supply the service itself. (3/29/18 11:59 AM)

Q: 2. Do the servers located on the second floor come with the building? (3/28/18 4:13 PM)
A: The servers that are located on the second floor, that are owned by ONTC, will remain on closing. Our tenant also has servers on the second floor, which are not included in the sale. (3/29/18 12:04 PM)

Q: Please confirm how long it takes for the Bid deposit to be received to be sure I can place my bid before the auction closes. (3/29/18 12:24 PM)
A: It takes approximately one business day for the deposit to be verified and a bidder's account to be open for bidding. Please see the attached Bid Deposit Instructions for complete details. Thank you. (3/29/18 4:32 PM)

Q: What are the exterior dimensions of the building? (4/4/18 12:07 PM)
A: The exterior dimensions of the building are +/- 42.75' x 79.5'. Thank you. (4/4/18 12:41 PM)

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