MORTGAGE SALE The Building and Land known as 112 - 114 Market Avenue in the City of Winnipeg in the Province of Manitoba as described in Certificate of Title No. 2646461/1 will be sold at auction on Wednesday the 9th day of September A.D. 2015 at 10:00 A.M. at Gray's Carter's Auction, 655 Logan Avenue, Winnipeg, MB. The Vendor is informed that there is situated on the property a 5-storey loft commercial building built in 1898 and zoned Downtown Character', The basement and each of floors 1 to 5 consist of 9,350 sq. ft. for a total of 56,100 sq. feet. The current use of the building is mixed use - retail, office, storage and partially vacant. The property is located on the south side of Market Avenue, east of Rory Street in Winnipeg. It fronts on Market Avenue with a frontage of 73.94 feet and has a slightly irregular depth on its east and west borders of approximately 134' to 136' for a total square footage area of 9,957 sq. feet. The property is bounded by multi-storey historic buildings as well by recently constructed mid-rise condominiums found on nearby Waterfront Drive. The building located at 112 Market Avenue occupies 94 % of the site's area while land-to-building ratio is 1.06 to 1. The remaining area is a small rear loading area that provides access to the rear entrance. Negligible parking is available on site and all services are available. The City of Winnipeg has registered a Notice regarding the Grade 3 Historical Significance of the subject property in Winnipeg's inventory of historical buildings and as such, certain features of the building cannot be removed or altered without consultation with the City of Winnipeg. The building is constructed of wood frame and brick on a stone-walled foundation. The basement floor is poured concrete and the upper floors are various wooden decking upon wood joists / columns. Height clearance in the basement is approximately 7', 10' on the main floor and 8' to 9' on the remaining floors. It has a flat roof with a modified bitumen covering that was replaced approximately 10 years ago on the West portion of the building and approximately 15 years ago on the East side. HVAC is provided to the basement and the 1st to 4th floors by a combination of local forced-air furnaces and 15 & 20 ton interior air makeup units and air-conditioning condensers on the exterior. There is proper ventilation in the main floor and basement for restaurant use and in the office spaces on the other floors. All plumbing has been replaced and the building is fully sprinklered with a zoned fire alarm. A freight elevator runs from the basement to the 5th floor and a 1,500 lb passenger elevator runs from the main floor to the 5th floor. The electrical system has been replaced with a 1200 amp three-phase electrical service and each floor has its own sub-service and metering. There are gas meters in the basement and on floors 1 to 4. Many windows on the east, north and south sides of the building have been replaced with sealed units in anodized metal frames. TERMS: TWENTY (20%) PERCENT of the purchase price in cash or certified cheque or bank draft or solicitor's trust cheque on the date, place and time of auction and the balance in accordance with the conditions to be announced at sale. SUBJECT TO RESERVE BID. The reserve bid will be announced at the auction. Subject to: Historic Property Notice #417942/1, Mortgage #4322877/1, Caveat #4322878/1 and PPSN #4322879/1 Property taxes are paid to December 31, 2015. Further information and copies of conditions of sale may be obtained from: Pullan Kammerloch Frohlinger, 300-240 Kennedy Street, Winnipeg, Manitoba R3C 1T1 Attention: Kevin R. Bolt, telephone 204-956-0490, file # 1120-021.
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