Magnolia Place, the Hamilton commercial building on the corner of Victoria and Parliament Streets, has been sold.

Up for sale for some time and vacant for an extended period, The Royal Gazettereported it on the market four years ago for $2.5 million, noting that it had seen a dramatic drop from its earlier listing price of $6 million two years earlier.

It was more recently listed for $2.1 million with Coldwell Banker Commercial Bermuda Realty, but the final sale price has not been disclosed.

A posting online confirmed the sale, with the realtor reporting that the building “offered so much flexibility, with an open ground-floor space for retail or client-facing use and two full office levels, all set in the North East Hamilton Economic Empowerment Zone”.

The property includes more than 17,000 sq ft and a spacious, open-layout commercial space on the ground floor, ideal for retail or customer-facing businesses, with high visibility and easy street access.

The realtor said the two upper floors had office space designed for professional use, corporate offices, coworking or private firms. Both floors are equipped with kitchens and restrooms.

The basement provides storage or additional operational space, accessible via both freight elevator from the main floor and passenger elevator from all levels.

The realtor noted the location in the legal and government sector of the city, and in the North East Hamilton Economic Empowerment Zone, gave the building the potential to be purchased by a small or medium enterprise for owner occupancy or for a developer with a vision.