Price drops for pair of iconic downtown buildings

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This article was published 09/11/2023 (1054 days ago), so information in it may no longer be current.

The Sneath Group has reduced the listing prices for two of Brandon’s iconic downtown commercial properties.

The asking price for the Bass Building at 29 10th St. has dropped from $3.325 million to $2.8 million, while the list price for the Prairie Lofts at 829 Rosser Ave. has gone down from $1.99 million to $1.75 million.

Both properties were first listed in August 2022.

The decision to lower the prices is expected to have a positive impact on the local real estate scene, according to the realtor.

“The Prairie Lofts and the Bass Building have long been integral to the fabric of downtown Brandon,” realtor Zach Munn told the Sun. “These price reductions not only make these properties more attractive to potential investors but also serve as a testament to our commitment to downtown revitalization.”

Munn, who is also the president of Brandon Area Realtors, explained that the Prairie Lofts seamlessly merge historic charm with modern amenities, adding that the price reduction opens doors for investors who appreciate the rich history of the building and its potential in the modern market.

Built between 1902 and 1904, the building’s current owners “undertook extensive renovations in 2017, giving the building a fresh, contemporary interior,” Munn said. “The two main-floor commercial units house a medical clinic and a national chain tenant, ensuring a steady flow of foot traffic.”

He said the building’s eight residential units offer both Airbnb and long-term rental accommodations, presenting a versatile investment opportunity for those who seek to invest in the heart of Brandon. Lease information and financials will be made available to qualified buyers.

The four-storey Bass Building, said Munn, stands as a testament to the successful revitalization of downtown Brandon.

“From 2018 to 2020, it underwent a complete reconstruction while preserving its architectural heritage,” Munn said. “With all four above-ground floors currently fully occupied and vacancies only in the lower level, small businesses can benefit from these attractive rates.”

Constructed in 1905, the Bass Building served as the headquarters for the furniture company of Campbell & Campbell, founded by Archibald Forbes Campbell and R. J. Campbell. In 1920, George William Fergusson and Fergus John Wright joined as partners, leading to the renaming of the firm as Campbell Fergusson and Wright.

After being vacant in the late 1930s, the building underwent renovations in 1939, transforming it into barracks for the 71st Battery. From 1943 to 1945, during the Second World War, it functioned as the United Service Centre, providing essential services to over half a million military personnel before it was acquired by George Bass in October 1945. Bass operated a restaurant on its main floor for several years.

Munn said that investors with an eye for potential and a passion for historic downtowns will find Prairie Lofts and the Bass Building to be enticing prospects for their portfolios.

Asked about the decision to sell both properties, Sneath Group chief executive officer Robyn Sneath said, “They’re fully tenanted (other than a couple of available units in the basement of the Bass Building) and in prime condition; it’s a great time to sell. We’d love to sell these properties to be able to do more projects.”

Sneath said the group renovated the buildings out of a passion, appreciation for historic architecture, and a love for downtown Brandon. “They’re filled with tenants who also appreciate the appeal of character buildings, and we’re hopeful that a buyer will recognize that owning and caring for a property like the Bass Building is not only a financial investment but also an investment in our city,” she told the Sun via email.

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