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Historically the corner of King Street and Canterbury Street in uptown Saint John was known as Vassie’s Corner. It was the site of a wholesale dry goods and woollen business originally established by William Vassie in 1832 and operated until after World War I. The site is also significant as the earlier building (before the fire) was the home of Benedict Arnold for six years while he was engaged in the shipping business in Saint John. Source: www.historicplaces.ca
“Vassie’s Corner” was part of the painstaking restoration of this entire city block which is now known as Centerbeam Place.
The retail storefront on this corner is now available for lease. For more info click HERE
Congratulations to Historica Developments on their successful acquisition of a portfolio of 4 uptown heritage buildings.
- 99 Germain Street has been the home of Bustin’s Fine Furniture retail showroom since 1905. Bustin’s Fine Furniture will be staying on as a tenant.
- 107 Germain Street is a 3 story office building currently the home to Dr. Brown, Claire Driscoll, Ispire and Enovex.
- 109 Germain Street is a 5 unit residential apartment building which is fully occupied.
- 30 Canterbury Street (also known as the “Canterbury Car Park”) is a 22,494 sq ft warehouse and parking structure.
The Bustin family had come to own the four buildings over many years in order to secure access to the alley behind the retail store to facilitate furniture deliveries. In recent year, the Canterbury Car Park has served as the warehouse for the furniture store. The large 3 story brick building on Canterbury had attracted inquiries from various developers over the years. Bustins finally concluded that warehousing was not the highest and best use for the building and it was identified as a candidate for redevelopment.
This transaction has been a long time coming with initial discussions starting in 2009. This was a complex transaction encompassing four mixed-use buildings each of which appealed to a different type of buyer/investor. It was important to the Bustin family that the buildings be sold together as a package and, in the end, Bustins and Historica Developments were successful in structuring a deal to make that happen.
Stephanie represented the vendor and Don Clancy, Gardiner Realty Ltd. Royal LePage represented the purchaser.