Simons wants to sell properties

Simons veut vendre des propriétés

La Maison Simons is a household in its properties. The former distribution centre of the retailer is now on the market as well as a building in the Old Quebec, which had been acquired in 2016.

This is the real estate agency Bender and Associates who driver these folders. The dealer manager was not available Thursday.

In 2016, the direction of Simons was paid$ 2 Million to buy the building next door to his store located on the coast of the Factory. This investment was part of an expansion plan.

Depending on the role of land, this property of four-storey building is valued at$ 1.8 Million. An offer to purchase would have already been filed, according to our information.

Yesterday, the company’s CEO, Peter Simons, chose not to comment on the sale of its buildings.

Scenarios

Recently, Mr. Simons told the Journal that he analyzed all the scenarios, such as restructuring or the addition of new investors, to ensure the financial health of its organization.

The businessman does not hide that he was struck by the pandemic, like many other retailers, and the bills were piling up.

Unlike other chains, Simons was, however, achieve one of the most important investments in its history of around $ 200 million for the construction of a new distribution centre.

The latter is located in the Area of innovation Chauveau will replace the old building with the group now selling on the avenue in Newton. Because of the COVID-19, the putting into operation of the new facilities had to be postponed.

The future of the centre

Recall that Simons has received a loan of$ 81 Million over seven years by 2018 of the government of Quebec to support its project. Investissement Québec has also injected$ 17 Million and the Caisse de dépôt et placement du Québec has made a check of$ 27 Million against investments in the company. The Fonds immobilier de solidarité FTQ had also invested$20 Million.

During the announcement in 2018, Mr. Simons stated that$ 30 Million of the$ 81 Million of the loan would be used to transform and to keep the establishment on the avenue in Newton. The initial aim was to build on this site an “accelerator of e-commerce” for companies.

Yesterday, it was not possible to know if Simons had abandoned this project, but the building, valued at $ 29 million, is now for sale. It has also not been possible to know since when the building is on the market.

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