The abandoned Stephens & Yeaton Ltd. building in Windsor is spoken for.
Godfrey Perry, of Truro, bought the Water Street building and a small parcel of land behind it during a tax sale in the Town of Windsor’s council chambers July 9. About 20 people were in attendance for the auction.
Perry said he has a couple of ideas for the property, such as opening a storage facility or starting a 50s-style diner where classic cars can park out front.
“I really don’t know where I’m going with it yet,” he said. “Time will tell.”
Perry purchased the properties with a $5,500 bid for the building and a $1,000 bid for the parcel of land along Albert Street. The purchase price, plus tax, must be paid by July 14.
Treasurer Doug Armstrong, finance director for the Town of Windsor, said the former Stephens & Yeaton building is assessed at $210,900. With the commercial tax rate set at $3.99 per $100 of taxable assessment, Armstrong said the annual taxes owed for the property is around $8,500 plus the additional tax paid by businesses within the downtown bid area.
Armstrong estimated that the tax owed for the $25,000 plot of land Perry purchased at an auction following the sale of the building would come with a tax bill in the range of $1,000
The Town of Windsor held two prior tax sales for the properties in December 2013 and March 2014.
Town council opted to set a minimum bid of $650 for each property for the third tax sale when it appeared unpaid tax bills in the range of $85,000 and $6,000 would only continue to grow.
The new owner will not be responsible for paying the outstanding taxes owed prior to the sale of the properties that were once home to a gas station, car dealership and garage.