News

Former Doman building sold for about $7 million by League Assets

Duncan's former Doman financial building, the Cowichan District Financial Centre, has been sold by Victoria's League Assets group of companies for about $7 million to a Vancouver-based numbered company.

League director Adam Gant also confirmed Thursday his firm aims to sell Duncan Mall and Duncan Plaza.

The sales are part of League's restructuring under the Companies' Creditors Arrangement Act.

"It was approved Tuesday and will close in about two weeks," he said of the three-story centre, Western Forest Products' former headquarters on Trunk Road.

Gant was optimistic the sales will help his firm repay its lenders.

He expected the revamped 40,000-square-foot centre — bought by the numbered firm under Paul Myers — would continue renovations to attract a mix of renters, now anchored by Scotiabank.

Summer saw the mall and plaza amid multi-million dollar refinancing and foreclosure action against some of the complex’s owners.

 

 

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