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WINNIPEG – Osborne Village is buzzing over reports an iconic local business, the Osborne Village Motor Inn, has been sold.

“The Village Inn has been sold, that has been confirmed,” Osborne Village BIZ executive director Stephanie Meilleur said, adding she heard the news directly from the business’ owners but they couldn’t be reached for comment by Global News.

The Inn is home to The Zoo Nightclub, Ozzy’s Bar, the Osborne Village Cafe and has a beer vendor in the parking lot.

Leighton Fontaine has leased the restaurant space in the building for around three years.

“As of right now we are waiting and seeing what goes on,” he told Global News. “This is still pretty fresh.”

The Village Inn has been around since the 1960’s.

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“It has definitely been an epic monument for the Village,” Meilleur said.

There is no word yet on what will be replacing it.

” I don’t know if the building is going to get a facelift or be torn down with new development coming up,” Meilleur said.