Nine stories in the news today, May 18
Nine stories in the news for Thursday, May 18
Boutique hotel property going for $1.25 million
The Ryan Mansion, one of the most famous homes in Newfoundland and Labrador, has been on the market for a month now, with a nibble here and there from potential buyers, but no sale.
“There’s a couple of people who have been looking at it, no offers yet,” said Re/Max realtor Keith Bradbury, who is working the property and spoke with The Telegram Sunday.
He acknowledged the luxury housing market is down right now, given the current state of the provincial economy, but also said the market is not entirely dead. And, he said, there’s more to the sale of 21 Rennie’s Mill Rd.
“I mean this is a very unique property,” he said, describing it as a possible family home, but perhaps ideally now a home paired with offices, or an office rental property.
It was the 5-star Ryan Mansion Boutique Hotel, hosting a list of famous guests, including Their Royal Highnesses Prince Charles and Camilla, Duchess of Cornwall during a royal visit in 2009.
It was built a century before that visit, between 1909 and 1911, as a home for Bonavista fish merchant and politician James Ryan. It is a registered heritage structure, recognized by the Heritage Foundation of Newfoundland and Labrador and a Southcott Award winner, recognized by the Newfoundland and Labrador Historic Trust for preserving the province’s built heritage. The grand staircase is perhaps the most famous of its features — made by the same designer and craftsmen as made the steps in the Titanic.
The mansion is on the market for $1.25 million.
The property is owned by Nolan Hall, of Kevin Nolan and Robert Hall, who have built a name through the restoration of well-known heritage properties in St. John’s, including the mansion.
The mansion once occupied both 21 and 23 Rennie's Mill Rd. The space at 23 Rennie's Mill Rd. was redeveloped as eight executive suites in 2012, sold to investors and continues to offer high-end space under the name Bannerman Park Suites.
"At that time (in 2012) the decision was made to wind down the operation of Ryan Mansion," Nolan told The Telegram, in an email Sunday night, also explaining some of the history.
"Given the current market conditions the property has been listed at a price considerably lower than a recent certified appraisal."
The pair have, as previously reported, encountered trouble more recently with investors in the neighbouring development. According to what Nolan told The Telegram back in June, the challenges tie back to a public back-and-forth with investors on a Temperance Street condo development downtown. There, proponent Project Management and Development Ltd. (PDML), with ties to Nolan and Hall, was challenged by investors who were dissatisfied with the development’s lack of progress. PDML was forced into bankruptcy, with the Newfoundland and Labrador Court of Appeal ruling against the company on Nov. 4.
The Ryan Mansion property is listed freehold.
(NOTE: Updated to include information provided by Kevin Nolan.)