Potential Bayside Sale Progressing
June 20, 2014 6:47am
The saga surrounding Sarnia’s struggling downtown Bayside Centre continues.
The Ontario Superior Court of Justice has granted a one-month window to allow an interested buyer time to firm up an offer.
City Manager Margaret Misek-Evans says the city and the mall’s major tenant, the County of Lambton, have also been given 30 days make an offer to buy the building.
A possible revenue sharing agreement between the Bank and City on the combined sale of land and building will also be explored.
The financially struggling property went into receivership in December 2012 and Toronto-based A. John Page and Associates Inc. was named the court appointed receiver and manager to improve and then sell the property.