Post office building up for sale

Canada Post is selling the massive post office building on West Georgia, a spokesman for the federal Crown corporation said Tuesday.

Jon Hamilton, general manager of communications, said with the construction well underway of a new postal processing facility by the airport in Richmond, Canada Post decided to move ahead with selling the property at 349 W. Georgia.

"We've started a process whereby interested parties can submit bids," he said by phone from Ottawa.

The facility, which occupies a full city block, was built in 1958 at a cost of $13 million.

A story in The Vancouver Sun in 2007 reported the property could be worth as much as $60 million

When asked how much the federal government was asking for it, Hamilton said that Canada Post is "looking to realize maximum value."

Hamilton said the post office expects to continue using the 1.2-hectare site until 2015. A gradual relocation to the new airport facility is expected to begin in 2014. "The future for us in terms of processing is out at the airport," Hamilton said.

He said there is no deadline for bids. He also wouldn't comment on whether potential First Nations land claims could complicate the sale of the property.

kevingriffin@vancouversun.com

(c) CanWest MediaWorks Publications Inc.

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Post office building up for sale