CIBC at Front St. and Lochiel Street in downtown Sarnia. October 27, 2017 (Photo by Stephanie Chaves)CIBC at Front St. and Lochiel Street in downtown Sarnia. October 27, 2017 (Photo by Stephanie Chaves)
Sarnia

End Of An Era In Downtown Sarnia

The County of Lambton is interested in buying Sarnia's downtown CIBC branch, but staff aren't making any promises that it will happen just yet.

The building, at Front and Lochiel streets, is scheduled to close Friday, May 4.

General Manager of Facilities John Innes says they currently lease the top floor to house administrative offices for the Judith and Norman Alix Art Gallery.

"They know we're interested," says Innes. "This would be to purchase the entire building. We have no idea what that would cost. We have not had any discussions as to possible uses for the space, all we've indicated to the CIBC right now is that we would be interested in discussing possibilities with them of acquiring it."

He says the county has been offered the first right of refusal.

"So, whether it will be a situation where we have private discussions with them, or it will go to the market, we haven't been made aware yet," he says.

Innes says the biggest deciding factor will be whether the county can even afford the sale price or to match the highest offer.

Bank officials have said the branch would be put up for sale about four to six months after the closure.

"They've indicated to us that once the building had closed there will be a period of time where they have to decommission the facility, and during that decommissioning period they will decide how they are going to market it," says Innes.

All client accounts and the four employees at the branch will be transferred to Sarnia's London Rd. location.

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