Lot # : 3 - "THE LANDING"-18 BOUCHER STREET WEST, MEAFORD, ON

Online Only Auction
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MEAFORD, ON N4L 1P4
Date(s)
4/17/2023 - 4/27/2023
AUCTIONEER INFORMATION
Catalog
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CONSTRUCTION DRAWINGS
THE LANDING WEBSITE
ENGEL & VOLKERS, LARRY REID AGENT LISTING
Information
Lot # 3
Group - Category Real Estate - Residential
Lead "THE LANDING"-18 BOUCHER STREET WEST, MEAFORD, ON
Description
NEW IN 2022 This newly constructed 3945 SF multi-suite dwelling has numerous possibilities. Live in the 1150 sf 2 BR, 2 bath suite and manage the other four 425 sf efficiency suites on an extended stay or short-term accommodation basis. Zoning also permits 3 of the suites to be used for residential purposes. OUTSTANDING POTENTIAL Opened in April of 2022, this “Boutique Hotel” boasts a 66% post Covid occupancy rate in just the first 8 months of operation. With the many new developments coming to Meaford starting in 2023 - including the TC Energy Pumped Storage Project, Skydev 6.6-acre mixed use waterfront development, Gates of Meaford residential subdivision and Georgian Bay Terrace 5 storey residential development, with repeating customers and as this property is discovered by new customers, the occupancy rate should improve even further. Proforma data is available upon request. TURNKEY OPPORTUNITY All furnishings, equipment, housekeeping supplies, and consumables are included. Also included: WEBSITE - www.thelanding-esq.com ; hotel booking engine license; prepaid insurance for 2023; web hosting; fire alarm monitoring. The website is also integrated with Expedia, Booking.com, Airbnb and other affiliated websites.
Name "THE LANDING" ONLINE REAL ESTATE AUCTION 27 APRIL 2023
Auctioneer
Snider's Sydenham Auction & Appraisal Services Inc
Type Online-Only Auction
Date(s) 4/17/2023 - 4/27/2023
Auction Date/Time Info
Bidding Closes: April 27 @ 2:00 p.m. Bidding Opens: April 17 @ 9:00 a.m.
Preview Date/Time OPEN HOUSES AND VIEWINGS There will be open house viewings by appointment on March 25, March 29, April 1 and April 5 from 2pm - 4 pm each day. Please call Larry Reid (Realtor) or Jim Snider (Auctioneer) to schedule your appointment for the open house viewings. LARRY REID 705-443-2351 JIM SNIDER 519-373-1654
Checkout Date/Time A $50,000 deposit is required within 24 hours of the conclusion of the auction if your bid is accepted by the vendor.
Location
18 BOUCHER STREET WEST
MEAFORD, ON N4L 1P4
Buyer Premium 1.5% BUYER'S PREMIUM
Description
ONLINE REAL ESTATE AUCTION SALE of "The Landing - Extended Stay Quarters" 5 Suite Short Term or Extended Stay Boutique Hotel at 18 Boucher Street West, Meaford, ON Bidding Opens: April 17 @ 9:00 a.m. Bidding Closes: April 27 @ 2:00 p.m.
DUE DILIGENCE: If you are a buyer that will be seeking financing or will need inspections and/or appraisals in order to purchase, please start that process as soon as possible in order to be prepared for the auction. As mentioned, there are no contingencies, including but not limited to: No financing contingency, No inspection contingency, No appraisal contingency. However, financing, inspections, and appraisals are permitted, but the agreement is NOT contingent upon those items. Do your due diligence, ask questions, and be prepared to bid and buy in confidence. The minimum opening bid is $1,000,000.00. The highest bid received will be subject to approval by the vendor. DEPOSIT: A $50,000 deposit is required within 24 hours of the conclusion of the auction if your bid is accepted by the vendor. BUYER'S PREMIUM: There will be a 1.5% Buyer's Premium based on the winning bid amount. The Buyer's Premium is subject to HST. The Buyer's Premium is due and payable within 24 hours of the conclusion of the auction.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 100.00 5.00 CAD
100.01 - 300.00 10.00 CAD
300.01 - 1,000.00 25.00 CAD
1,000.01 - 2,000.00 50.00 CAD
2,000.01 - 5,000.00 100.00 CAD
5,000.01 - 50,000.00 250.00 CAD
50,000.01 - 9,999,999.99 10,000.00 CAD
Currency CAD
Buyer Premium 1.5% BUYER'S PREMIUM
Payment Terms
The minimum opening bid is $1,000,000.00. The highest bid received will be subject to approval by the vendor. DEPOSIT: A $50,000 deposit is required within 24 hours of the conclusion of the auction if your bid is accepted by the vendor. BUYER'S PREMIUM: There will be a 1.5% Buyer's Premium based on the winning bid amount. The Buyer's Premium is subject to HST. The Buyer's Premium is due and payable within 24 hours of the conclusion of the auction.
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Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.