Auction

We are foreclosing on an 83 acre parcel of land with substantial frontage on Shoe Cove Pond and Peyton's Pond (Pouch Cove). The smaller pond is almost ½ mile long (700m) and has the potential to be very exclusive as the rest of the pond (not the subject property) is zoned Habitat Management (cannot be developed). As the pictures show, this property has little wet or steep sections so should be as easy to develop as you could hope for. We expect this land to sell for at least $1 million less than the last list price of $2.9 million, and that price was generating interest. This is raw (no development approvals) but it is zoned R3 so is suitable for residential development. This was going to be the next Phase of the high-end Vales subdivision and has 2 road access points, the extension of Vale Drive and a connection to Mountain Cres. Pouch Cove has become a hot development area with new-build houses selling before they are finished. New-build dry-lot homes are selling for $500,000+ and in the nearby Spruce Grove Subdivision there are about 40 homes under construction. Even if you are not a developer, you could just subdivide into huge exclusive pond front acreage lots and build your own home on one. Standard pond front lots in other areas at the edge of town are selling for $1/2 million+. If you are looking for a premier pond front property, or are a developer looking for your next project, don't let this one get away. We expect that this is an opportunity to buy for less than crown land prices.. Auction date is 23 Sept via sealed bid Attn. Luke Hayden at Cox & Palmer. If you want a copy of the appraisal ($2 million) or to discuss please reply to this add, call me at 749-5202 or call the lawyer, Luke Hayden at 570-5504. NOTE: Financing is available to qualified buyers.