Potential buyer for O’connell Centre has backed out
The former O’connell Centre is back up for sale on the real estate market.
The building, owned by Western Health, that once housed long-term care patients had a potential buyer earlier this year, but that deal will not go ahead now.
The Saltwire Network had been in communication with the potential buyer, who has requested not to be identified as they do still have some other potential plans for developments in the Corner Brook area and want to keep quiet about them.
The developer recently indicated they would not be pursuing the purchase of the O’connell Centre because they couldn’t get the finances of the project to work for them.
“The building had a purchase and sale agreement in place, with a deposit,” the developer said in an email. “We forfeited the deposit and walked away.”
In December, Corner Brook’s city council approved an application to have the building converted to a residential condominium complex.
A condominium would be considered a discretionary use for the O’connell Centre’s location, which the City of Corner Brook has designated as a downtown commercial zone, so there would be no need for rezoning.
No one from Western Health was made available for an interview about the purchase falling through. The health authority did confirm there was an offer to purchase the building which didn’t materialize.
The O’connell Centre is still for sale and is listed with a real estate agent through two listings, one for the building and another for a parcel of land across the street from the building.