Global Television land site up for sale at $2.46M

A prominent parcel of Lethbridge industrial land is up for sale once again — this time, by court order.

The 32.8-acre Global Television site on 28 Street N. was originally bought for the city’s first television station. A high transmitter tower, with support wires in all directions, was built alongside a studio for CJLH television. The locally owned station — a joint venture of the Lethbridge Herald and Lethbridge Broadcasting Ltd., operating CJOC radio — opened in 1955.

Doug Mereska, managing director at Avison Young Lethbridge, says the subject property was later sold as ownership of the station passed from one company to the next.

Newer technology has allowed broadcast engineers to use a shorter tower, freeing up much of the original site. The idle land has changed hands several times in recent years, Mereska adds.

His real estate company has been named an agent of the court, asked to find a buyer willing to pay $2.46 million.

The Court of Queen’s Bench ordered the sale, he says, at the request of the Vancouver-based IMOR Capital Group. The most recent purchaser was unable to keep up with payments to the lender, Mereska explains.

He says the U-shaped property, flanking the TV and office building on three sides, does not include that site.

It’s currently zoned “Urban Innovation,” Mereska says. “You can do just about anything on it,” so long as the buyer can make the payments.

But utility servicing costs and offsite levies would have to be covered.

The court has not given him a deadline for the sale, Mereska said. But it might consider a purchase offer a little less than the asking price.

“If we had an offer less than that,” he says the creditors could offer court officials their response.

“It would be up to the court to decide if the offer is accepted or not.”