Name | Island 72 - Rare 39 Acre Island |
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Auctioneer | Roup Sales Services |
Type | Online-Only Auction |
Date(s) | 12/4/2020 - 1/15/2021 |
Dec 5th, 2020 - Jan 16th, 2021 at 5:01pm EST | |
Preview Date/Time | By appointment. |
Location | Island #72 Simon Point Greenough Harbour, Northern Bruce Peninsula Simon Point, ON N0R1G0 |
Buyer Premium | 10% plus HST |
Description |
Island 72 - ZONED R2 - Rare 39 Acre Island INVESTMENT OPPORTUNITY
Highest & Best Use - Single Family Rural Recreational Lot Development.
Seller Background Info:
Our family had a cottage on Lake Huron when I was growing up where I decided to build my own first cottage in 1974 in the Pike Bay area – and fell in love with the big lake and all that it offers, and boated / fished extensively along the coastline often around the area where the island lays, since the mid seventies. I was amazed then as well as now as to its natural beauty - so I know it very well and have visited it in all seasons, and to this day have a sustained passion for this piece of property - totally surrounded only by the lake as well as conservation / park lands and on all mainland sides of the island. It is truly remarkable, an ocean-like setting with southerly and westerly exposures.
The island is heavily treed and has very deep water on all sides as well as the natural harbour on the north side, which is ideal for boating as it is protected from all of the fury of the mighty lake, withstanding the big storms and ice conditions at times on Lake Huron, and has lost little or no trees since the first time I set eyes on it.
This property represents some of the most beautiful waterfront properties in all of Ontario, and now this natural treasure will be developed properly with responsible ownership and planning - for many families to enjoy into perpetuity.
Seller's Reason for Selling:
We have planned to develop the island since the late nineties, but did not pursue it because of other properties that were under development in that same time period. We have recently purchased it and are moving forward quickly with the many elements associated with its development, but will consider selling it to the right buyer and move on to develop other properties we own, or will continue with an equity partner to complete the project with my support and guidance.
Currently, hydro, telephone and fibre optics are located at Lot #56, Plan 3M199, the abutting residential development known as Greenough Harbour. These services including road allowances are assumed to traverse Block #62 -3M199 and Island #73 and abut the Subject Island #72.
Details of Sale:
Estimate: 9,500,000.00 CAD - 12,500,000.00
Property Type: Residential Holding/Speculative Recreational-Island.
Description:
This rare Investment opportunity consists of approximately 39 Acres of Island located in Lake Huron between Greenough Harbour and Simon Bay. It has approximately 6,506 feet of Lake Frontage. It is a heavily treed Island with excellent water depth between 5' to 25'. The main land which is in close proximity is essentially protected lands. The northeast corner of the Island has excellent water depth and is well protected. The south and west portions of the Island provide excellent sunset views. There are minimal wetlands on the property as it is high and dry. A very tranquil setting. The property is located in the Municipality of Northern Bruce Peninsula in close proximity to the ‘Greenough Harbour’ Community.
Currently, hydro, telephone and fibre optics are located at Lot #56, Plan 3M199, the abutting residential development known as Greenough Harbour. When the Greenough Island Lane (Street #2) has been constructed to municipal standards and extends northward to its northerly terminus and extends to the original municipal road allowance on the main land. Included in the construction of these road allowances will be hydro, telephone and fibre optics services. These services including the road allowance are assumed to traverse Block #62 -3M199 and Island #73 and abut the Subject Island #72. There is a spit that connects Island #72 and Island #73 which connects to the mainland. This spit is where the connecting road allowance will be built to provide access to Island #72. In accordance with the current zoning in place, its Highest and Best Use would be as single family rural recreational lot.
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Bid Amount | Bid Increment |
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0.00 - 95.00 | 5.00 CAD |
95.01 - 975.00 | 25.00 CAD |
975.01 - 9,750.00 | 250.00 CAD |
9,750.01 - 97,500.00 | 2,500.00 CAD |
97,500.01 - 9,999,999.99 | 10,000.00 CAD |
Currency | CAD |
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Buyer Premium | 10% plus HST |
Payment Terms |
SEE AUCTION NOTICE
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