Buyer found for old Saskatoon police station, new office tower possible

After more than three years, a buyer has been found for the former Saskatoon police station.

The station has been provisionally sold to Duchuck Holdings Ltd., a local developer with properties in Saskatoon and across the United States. City council will have to vote in favour of the sale on Monday to officially seal the deal.

• For sale: One slightly used police station

The company is interested in converting the station into office space. While vacancy rates in downtown Saskatoon are relatively high, the people in charge of the sale said this particular building is attractive.

"There is a shortage in the downtown core right now of larger, contiguous office buildings," said ICR Commercial Real Estate partner Barry Stuart. "If you were to search for something beyond 30,000 square feet in the downtown core, there's nothing currently available."

If council approves the sale, Duchuck Holdings is also interested in building an office tower on the adjacent parking lot. For that to happen, the company would have to pre-lease 30 per cent of the development.

Stuart said the building is currently being gutted to accommodate new renters. He wouldn't comment on which companies might occupy the space.

He also wouldn't comment on how much the land will sell for. In 2013, the city hoped to get $15 million for the property.