Parts of the massive Phillips Cables plant could start tumbling down soon, now that a long-awaited agreement has been reached to close the $2-million sale.

"They could be doing demolition sometime this week," said Brockville realtor Lorne Mallory, who brokered the deal between the plant's former owner Brockville McDowel Ltd. and the purchaser, Junic Construction.

Junic is a Gatineau-based residential development firm and plans to tear down the abandoned 480,000-square-foot factory and build homes on the 40-acre property.

Maureen Pascoe Merkley, the city's director of planning, said Monday no application has been received for a demolition permit on the site.

Reached yesterday, Junic owner Charles Tremblay said it's premature to suggest demolition could commence this week, but he indicated some initial preparatory work is expected to start at the site this week.

He declined to comment further on the project ahead of a more formal announcement of the company's plans later this month.

Brockville economic development director Dave Paul respected Tremblay's desire to hold off on the formal announcement, but described Junic as an award-winning developer.

"What we've seen has been quality in terms of the types of products he's done. ... He's been very taken by Brockville and sees some good opportunities," said Paul.

The sale, which was initially to have closed Sept. 1, became complicated when one of the existing tenants on the property won a court injunction against the sudden termination of his lease.

That tenant, Garden World owner Al Phillips, continues to operate his business on the site - although he's located in a separate building at the back of the property.

Mallory noted while the property's title has changed hands, the money is being held by the courts pending the resolution of claims against the former owner.

Syd Hopkinson, a partner in the Newmarket-based Brockville McDowel Ltd., confirmed in a telephone interview Monday that the financial transaction is indeed tied up in the courts.