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REAL ESTATE
ESTEVAN HOTEL


Date: 
Jul 24
Time: 
1:00 pm (CST)

Directions

404 Kensington Avenue, Estevan, SK

Description



Viewing:

Viewing by Appointment Only, please contact Cory Hall to arrange a viewing at 306-541-4409. This is an operating Hotel, No Viewings except by Appointments.



Auctioneers Note:

Suburban Extended Stay Hotel, located in Estevan, Saskatchewan (404 Kensington Avenue), provides a unique investment opportunity for potential suitors. The 134-room, 12-suite Hotel holds a strong 4.5 Star Rating in the local market, sitting on a 2.6-acre site in the commercial hub of Southeast Saskatchewan. Estevan, known as "Energy City", has its economy run on power generation, coal mining, agriculture manufacturing and oil and gas drilling. Being just 16 km north of the Canada/US border, Estevan also benefits from its access to North American markets. The city also holds appeal to outdoor enthusiasts.

Saskatchewan has a rebounding economy, creating more long-term growth prospects for the Province's cities and their businesses. It boasts nearly two-thirds of the world's recoverable potash resources and is the 2nd largest exporter of uranium. Saskatchewan also promises to benefit from 21 natural resource projects over the next 10 years, with 27 Billion dollars in investments. This will also allow Estevan and its businesses within to grow and flourish.

There have been no new developments in the lodging sector, with no hotels proposed or under construction. This absence of new competition will allow you to establish this property as the #1 hotel and top investment opportunity in Estevan.



Terms & Conditions and Purchaser's Responsibilities



1. The Highest or Any Bid will not necessarily be accepted, and all offers are subject to Receiver and Court Approval.

2. A formal agreement will need to be executed with the high bidder upon acceptance, covering closing, employees, inventory, etc. (draft (not finalized) of this agreement will be available for review prior to bidding, as a downloadable PDF from McDougall's Bidding Page).

3. The Suburban Extended Stay Hotel Name is not required to be kept, Option is availale to obtain Choice Quality Inn and Suites Name, more details forthcoming. Please contact Cory for more details on this point.

4. Each Party is responsible for their own Legal & Transfer Fees.

5. Upon agreement to Sell the Purchaser will be required to pay a deposit to McDougall Auctioneers of 10% plus the Buyer's Fee and applicable taxes within 24 business hours.

6. Remainder of funds and title transfer to occur as specified within the Formal Agreement.

7. Terms within ''The Formal Agreement'' supersedes any other verbal or written terms and conditions.
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Other Details

TERMS & CONDITIONS
- Cash, Debit, Visa, MasterCard, Certified Cheque, Corporate Creditor or Online Payments.
(On Visa & MasterCard 3% Fee Charged On Amounts Exceeding $200)
- Buyer's fee of $1500.
* Subject to additions & deletions

 

Auction Items

Lot 1500 - Suburban Extended Stay Hotel in Estevan 404 Kensington Avenue, Estevan

Status: Open Current Bid: $2,500,000.00 by Secura Close date: 7/24/19 1:00 pm CST

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