Duane Hicks
The building at 261 Scott St. (formerly Nirvana Salon and The Ear Clinic) has new owners.
Guy Donaldson said he and wife, Kelly Spicer, together as “M.C. Laine Holdings Ltd.,” are buying the 2,600 sq. ft. building in the downtown area with the transfer officially to take place tomorrow (Nov. 7).
Nirvana Salon and The Ear Clinic closed their doors in late July after Mike and Brenda Tullio, who had been in Fort Frances for 16 years, moved to Meaford, Ont. (near Owen Sound).
Donaldson said they view the purchase as “a good investment opportunity” with great potential.
“The building has a long history in Fort Frances and has a reputation as a very well-built building,” he noted yesterday.
“We knew Michael quite well and appreciated the quality of the workmanship that was put into improvements,” added Donaldson.
He said Tullio put the building on the market at “a very fair price” and that “there have been some good things going on downtown,” with new businesses such as Curvy Chick and 4 Your Pets opening their doors, and activities like the BIA’s “Market Thursdays” going on.
“We feel if and when something happens with the Rainy Lake Hotel, this will be a prime downtown location,” said Donaldson.
The new owners are looking for one or more businesses to lease the property.
Donaldson said the property is well set-up now for either retail or the service industry. There currently is two spaces available within the building.
He noted the building could be anything from an office for a lawyer or financial services to a fitness place as it continues to be a growth industry.
It even could be a good short-term opportunity for a retailer heading into Christmas season, added Donaldson.
The property acquisition is good timing for the couple as they also are looking at the redevelopment of their corner property at 297 Scott St. (the former Robin’s Donuts).
This location could be a “wonderful opportunity for someone to be in the restaurant business,” noted Donaldson.
In general, Donaldson and Spicer are bullish about the local economy.
“We do believe market values should begin to climb soon,” he said.
“Lumber prices are forecast to climb by 2015. [And] there is a feeling Canadian currency is overvalued so we may see a drop,” he added, noting mining activity continues to be favourable.
“The area may not boom but [it] does provide some wonderful opportunities,” Donaldson remarked.
