Oct 17, 2017 by Mark Leger
SAINT JOHN – After nearly 10 years on the market, the iconic Bank of New Brunswick building on Prince William Street has been sold to Ron Lovett and Courtney Sherlock from Halifax.
“We have really seen so much growth in uptown Saint John over the past four years. It’s really starting to come alive,” said Lovett in a release.
Stephanie Turner, a commercial real estate agent with Partners Global, represented the seller, Arc’f de Saint-Jean Inc. Jason Stephen of Royal LePagerepresented the buyer. Arc’f will remain a tenant in the building for up to two years. The ground floor on Water Street is home to Loyalist City Brewing.
The building – a Greek Revival structure known for its six Corinthian columns – was constructed in 1879 after the original building was destroyed in the Great Fire of 1877 that levelled much of the city centre.
It is fondly remembered by many as the former location of the once popular bar, Pillars.
It was “purpose-built” for a bank, said Turner in a phone interview, so it’s sat on the market not being an obvious candidate for redevelopment.
But the Lovett sees the potential. “The building is so beautiful. It just needs a little TLC.”
The building has been on the market since 2008, and Arc’f is pleased to see it in good hands with new owners.
“They are so pleased with the sale,” said Turner. “They’ve been very patient. We’re looking forward to seeing what [the new owners] do with the building