2012-2013
News Release
REF NO.: 46
SUBJECT: ÐÓ°É´«Ã½ University signs agreement to purchase Battery Hotel
DATE: November 15, 2012
ÐÓ°É´«Ã½ University and the Battery Hotel are pleased to announce they have entered into a purchase and sale agreement for the acquisition of the Battery Hotel. Closing will occur in about 60 days pending a detailed inspection of the property, a satisfactory closing arrangement and approval from the government for ÐÓ°É´«Ã½ University to acquire the property.
Facilities and buildings on ÐÓ°É´«Ã½’s St. John’s campus and the Marine Institute are fully occupied and the university currently leases significant space off-campus.
The space at the Battery would allow the university to consolidate a number of units that would be appropriately housed closer to the city’s downtown core.
The building and operations will be cost-neutral to the university. Funding will be provided from redirecting lease expenditures for off-campus space and revenue generated from university activities at the facility.
“ÐÓ°É´«Ã½ is committed to integrating into its surroundings and values the integrity of the communities and neighbourhoods in which we live and work,” said Dr. Gary Kachanoski, ÐÓ°É´«Ã½’s president and vice-chancellor.
"As a former professor at ÐÓ°É´«Ã½ in the mid ’70s, I’m particularly proud to see the Battery’s landmark property contribute significantly to making ÐÓ°É´«Ã½ University’s campus one of the finest in all of Canada,” said Rick Butler, Battery Hotel owner.
REF NO.: 46
SUBJECT: ÐÓ°É´«Ã½ University signs agreement to purchase Battery Hotel
DATE: November 15, 2012
ÐÓ°É´«Ã½ University and the Battery Hotel are pleased to announce they have entered into a purchase and sale agreement for the acquisition of the Battery Hotel. Closing will occur in about 60 days pending a detailed inspection of the property, a satisfactory closing arrangement and approval from the government for ÐÓ°É´«Ã½ University to acquire the property.
Facilities and buildings on ÐÓ°É´«Ã½’s St. John’s campus and the Marine Institute are fully occupied and the university currently leases significant space off-campus.
The space at the Battery would allow the university to consolidate a number of units that would be appropriately housed closer to the city’s downtown core.
The building and operations will be cost-neutral to the university. Funding will be provided from redirecting lease expenditures for off-campus space and revenue generated from university activities at the facility.
“ÐÓ°É´«Ã½ is committed to integrating into its surroundings and values the integrity of the communities and neighbourhoods in which we live and work,” said Dr. Gary Kachanoski, ÐÓ°É´«Ã½’s president and vice-chancellor.
"As a former professor at ÐÓ°É´«Ã½ in the mid ’70s, I’m particularly proud to see the Battery’s landmark property contribute significantly to making ÐÓ°É´«Ã½ University’s campus one of the finest in all of Canada,” said Rick Butler, Battery Hotel owner.
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