The building was sold to the Turcotte and Morin families of Chicoutimi for $1.3 million to the company Rio Tinto in 2013. At the time, the multinational wanted to sell this asset because it no longer fit its strategy.
Around fifteen potential buyers submitted a purchase offer to real estate brokers Jean-Philippe and Jérôme Côté. Madness causes a process of one-upmanship. “At first, the buyers fell in love with the building. They told us that they intend to acquire it for a period of 10 years and after that time, they will put it back on the market,” described broker Jean-Philippe Côté.
“It hurts our hearts to sell it. This is our castle and it is a source of pride for us to own this building. My father-in-law has reached a certain age so we have to move to another stage,” added the family spokesperson, who wishes to keep his identity confidential.
With a living area of 13,745 square feet, the prestigious stone building was built in the 1940s after the construction of its older brother, the Saguenay Inn, better known today as the Manoir du Saguenay. It was architect Harold Lea Fetherstonhaugh of the Fetherstonhaugh & Durnford firm in Montreal who was the originator of this English-style building. They were assisted by the engineering firm Jas A Kearns Consulting Eng.
At that time, the area with the porte-cochère and a ventilation turret was intended for a staff. The architecture of its row apartments is meant to be a nod to the stables. However, the current garages have never been used as horse stables.
Today, the construction of 17 apartments spread over two floors is intended for an independent retired client. In the basement, tenants benefit from 17 large rooms with washers and dryers for washing or storing their belongings. According to one of the owners, the occupancy rate is 99.87%.
“We have a waiting list, people really want to stay in this area,” he said.
So far, investors from all over Quebec have shown interest in buying the building.
“This is a unique building that has been well maintained by the owners. There have been regular changes over the years. It is very clean,” specified the real estate broker responsible for the sale.
According to the sale description, the value of the building is $814,000. The land is appraised at $270,800.