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SYDNEY — The parcel of land once home to Jasper’s restaurant and a service station at the corner of George and Dorchester streets in Sydney is destined to become a paid parking lot.

A source told the Cape Breton Post this week that once the property, which has been owned by Imperial Oil Ltd. for decades, was listed after more than eight years of soil remediation and monitoring, a bidding war had the purchase price of the 16,800-square-foot lot at a minimum of $160,000.

It was listed for $89,500 by the oil company in early March. Its assessed 2018 commercial taxable value as indicated by the provincial government’s land registry is $87,400.

According to another source, who spoke anonymously because he wasn’t authorized to discuss the issue publicly, two of the three top bidders want to turn it into a paid lot because of the demand for parking spaces in downtown Sydney.

The person said those working in the downtown have been “crying” for more spaces, especially as employees working at the Citizenship and Immigration Canada office across the street take up many of the curbside metered spots in the area.

“It doesn’t surprise anybody that people are trying to buy it for a parking lot,” the source said

Roy Milley, managing associate broker for Keller Williams Select Realty in Sydney, is handling the sale of the property for Imperial.

He could not confirm a future use for the commercial-grade lot. Although he said it could only be used for a commercial purpose because it was once home to a gas station dating back to the 1960s.

“There were underground oil tanks at one time. They did clean it up. It’s been a number of years and (Imperial Oil) monitored the property over the years to ensure that it did meet provincial regulations,” Milley said.

He did confirm there are “multiple offers” on the property and it’s expected to be sold for over the asking price.

“At this point, Imperial Oil has chosen the best offers – the top offers – and they are making a decision I expect, if not by end of this week then the start of the upcoming week, as to which one they’re going to accept,” he said.

“But at this time, they’ve shut down accepting any more offers on it.”

Parking in the downtown has been an issue for many, said Michelle Wilson, executive director of the Sydney Waterfront District Association.

The association’s paid parking lot it operates at the corner of George and Pitt streets is full of patrons paying $45 a month for the right to park there.

“We’re just glad it’s full right now,” she said. “We’d like to offer more off-street parking for staff if they’re looking for it because that allows customers better access to our businesses.”

The former Esso service station initially operated in the spot before the Town House restaurant opened.

Jasper’s restaurant then leased the property from Imperial Oil from about 1978 until it abruptly shut down in February 2007, throwing about 60 waitresses, cooks and other employees out of work.

The building was demolished in December 2009.

Imperial Oil spokesman Jon Harding said a company had been hired to conduct monitoring and “remediation activities” over the years.

“Since the service station closed (we) have conducted monitoring and remediation activities and in January we obtained a Declaration of Property Condition from Nova Scotia’s Department of the Environment” permitting the lot to be sold, Harding wrote in an email Thursday.

He said he couldn’t provide any details on how the sale is unfolding due to the privacy of the bidders.

Milley sold another Imperial Oil property a few months ago, a process that can take up to six months to complete. He noted in this instance it could take up to 90 days before the deed is recorded with the province.

chris.shannon@cbpost.com

Twitter: @cbpost_chris