Features and Specifications
Details:
There is a lease in place that the purchaser will haveto assume, as well as a Rail Siding Agreement or a Track Access Agreement that the potential purchaser will have to arrange with CP Rail. These agreements will be made available to qualified interested purchasers upon request, and will be considered confidential and non-transferable.
Formerly a Pioneer Elevator, this facility was sold to a private company (Pipeline Foods) in the mid 2010’s and refurbished and used for several years, until the company closed in 2021.
This Facility consists of several buildings, all the following are included in the sale of the Elevator,
Heated Shop (32 ft by 70 ft)
Cold Storage (24 ft by 48 ft)
Main Elevator Building with Offices & Testing Rooms (720 Metric Tons or 26,450 Bushels)
Annex #1 (1500 Metric Ton Capacity or 55,000 Bushels)
Annex #2 (360 Metric Ton Capacity or 13226 Bushels)
4 – 10,000 Bushel Westeel Bins
Heated Shop: 2200 Sq Ft, Former Chemical Storage, but Spill Barrier has been partially removed. Ventilation still in place. Concrete Floor, Overhead Natural Gas Radiant Heaters, Overhead Door approx. 14 ft high,
Cold Storage: 1150 Sq. Ft., attached to Heated Shop, Uninsulated, Extra Parts for Elevator in Storage inc. Drags, Motors, & Scoops.
Dust Collector: Estimated Capacity 1 or 2 Metric Tons, New within the last 3 years.
Elevator Complex: New Control Panel (EZ Sentinel 128 installed and built by Stockdales), Smaller Cleaner on second floor remains with Elevator, Bulk Weigher is Hydraulic and has 2.5 Ton Capacity, Leg Capacity is approximately 44 metric Tons every 20 mins or 2 M.T. per minute. Drags for Loading is Half Speed, but Faster when pulling in. Variable Frequency Drives are installed on Panels. Newer Man Lift installed. Stairs are installed to second level.
Other Improvements of Note: All ties on siding are replaced, All Drags have new Nylon Paddles, All Drags are relined with AR Steel, All Bins are Hoppered.
Lease Obligations & Details: There were two agreements between Pipeline and CP in respect of Gull Lake. The purchaser of this facility would assume the existing Lease that Pipeline Foods had and would enter into a new Siding Access Agreement. Both agreements are provided below under supportive documents.
a) Lease Agreement – existing Lease to be assumed
The rent under the Lease Agreement was $2500 per year due on September 1 in each year of the term of the Lease. The Lease term expires on August 1, 2023, but can be renewed for an additional 5 year term (and thereafter for another 5 year term – for a total of ten years to 2033). There is a 3% increase applicable in each year of the five-year initial term. There is also a Rental Review provision (clause 2.07) that CP can invoke.
b) Siding Access Agreement – provided by CP
Under the Siding Access Agreement, CP grants to the Tenant the right to use a portion of the rail siding or yard track to load and unload goods sent and received by rail on the CP line. The annual fee is $25,000 and that is due in January of each year. There are also fee increases of 3% each year going forward. This agreement continues in effect until terminated by either party (CP or the User) on 90 days notice. CP provided a draft agreement for review by the party purchasing the Gull Lake facilities and assuming the Lease.
