Commercial Real Estate, Forest, Ontario Online Auction

Online only

Start bidding :
5/19/2023 8:00 AM EST
End bidding :
6/1/2023 6:00 PM EST
Date: Thu, Jun 1, 2023
Time: 6:00 PM EST

Location:
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LOTS/CATEGORIES

Real Estate Property (1)
COMMERCIAL PROPERTY FOR SALE BY AUCTION IN FOREST, ON
Commercial Property For Sale by Auction in Forest, ON
Sold
9 & 15 King Street W, Forest, ON, 01

Square Foot Icon2,292.7 SqFt

Forest, ON Commercial Property for Sale by Auction


Are you looking for a commercial property that offers lots of options and possibilities?

The property that has been home to the Huron Cove Restaurant since 1931 is your opportunity!

Located in the core of Forest's downtown, The Huron Cove Restaurant building on King Street West is a great central site with plenty of parking for patrons on the street by the front entrance and in the ample parking lot at the rear entrance that is shared with other businesses, including 2 pharmacies, Red Apple Store, and LCBO. 

This building offers lots of opportunity and options, whether you leave it as one facility or partition it back into two.  It is commercially zoned (C1), giving plenty of choice for businesses that could operate here, including Restaurant or Fast Food, Art Gallery, Retail Store, Office, Bake Shop, Retail Food Store, Service and Repair Shop, Tavern, Brewing on Premises Establishment, Clinic, Commercial Recreation Establishment, Convenience Stores, Day Nursery, Dry Cleaning Establishment, Laundromat, Personal Service Establishment, Place of Entertainment, and Private Club.  

Auction bidding opens Friday, May 18, 2023 at 8am
Auction begins to close Thursday, June 1, 2023 at 6 pm - 5 minute soft close


Open House
Sunday, May 28, 1-3 pm


Please read the attached Buyer's Information Package (BIP) and sign and send back the BIP certification.  BIP Certification must be signed and returned to the office before you will be able to bid.  BIP will be available at the Open Houses Scheduled.

Register here for online bidding after you return your signed BIP Certification.

Please be sure to get your BIP certification signed and returned to the office so that you can register in time to bid online. It is highly recommended that you register early, even if you're not planning on bidding until the last hour. This will ensure that your registration online is approved. 

If submitting the BIP Certification by email (info@greatwestteam.com), a copy of your valid government issued driver's license must be included.  The name on the license must match the name on the BIP Certification and the person who is bidding.

Attachments: (2)


TERMS AND CONDITIONS

PROCEDURES AND TERMS

1. All bidders and others attending this auction agree that they have read and fully understand the terms and agree to be bound thereby. These terms are in addition to all other posted information, if any. There will be scheduled Open Houses on Saturday, May 13 - 1-3 PM, Thursday, May 18 - 5-7 PM, Saturday, May 20 - 1-3 PM, Sunday, May 28 - 1-3 PM. Please call the office at 519-882-4554 to set up an alternate viewing appointment.

2. Registration for the real estate auction will begin Friday, May 19 @ 8 AM for 9 & 15 King Street W, Forest, ON. Anyone interested in bidding must register and obtain a bidding card number.

3. Announcements by the Auctioneer or the Vendor at commencement of the auction will take precedence over any previously printed material or any other oral statements made by anyone employed by, representing, or associated with the Auctioneers.

4. Questions may be directed to the office at 519-882-4554 or by email to info@greatwestteam.com

5. If any dispute arises between or among bidders, the decision of the Auctioneer shall be final and absolute.

6. Auctioneers reserve the right to reject any or all bids and reserve the right to bid on behalf of an absentee bidder. This property is being sold subject to the owner’s confirmation.

7. Closing Costs: Purchaser will incur standard closing costs, as would be the case through and purchase of real estate in the province of Ontario.

8. HST: Harmonized Sales Tax will be applicable to Purchase Price on closing and will be paid by the Purchaser. (If applicable)

9. There is a 6% Buyer’s Premium to be paid by the Purchaser added to the purchase price, becoming the contract price.

10. HST applied to Buyer’s Premium Portion

11. BIP Certification and copy of valid driver’s license must be returned to the office before any online bids will be approved. Name on license and signing person on BIP must match. These can be returned to the office via email to info@greatwestteam.com

Disclaimer Be advised that the information contained herein is to the best knowledge of the provider or was compiled from public information and is provided to you without warranties or representations of any kind, and the property if offered as is and where is, with all faults and that not warranties or representations are made in connection with the property whatsoever.

Bidding Information The auction of this piece of real estate will take place in the same manner in which you would expect to bid on a piece of personal property. The Auction will have a 5-minute soft close to ensure that every person clearly understands the amount of the previous bid. You will have the opportunity to bid as many times as you like and upon conclusion the highest bidder will be declared the buyer subject to the approval of the vendor. The Auctioneer’s decision is final.

What Happens Next?

1. A deposit of $10,000 will be required from the successful bidder immediately following the auction. This amount need not be certified; however, the funds must be in the account upon which the cheque is written at the time it is written. There is no charge to register for this auction.

2. Closing will be June 29, 2023.

3. No conditions may be added to this agreement by the purchaser either at the auction or otherwise.

4. The purchaser’s lawyer will be allowed until 2 weeks prior to closing to inspect title

5. There is 6% Buyers Premium added to the purchase price.

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Please read the attached Buyer's Information Package (BIP) and sign and send back the BIP certification.  BIP Certification must be signed and returned to the office before you will be able to bid.  BIP will be available at the Open Houses Scheduled.

Register online bidding after you return your signed BIP Certification.

Please be sure to get your BIP certification signed and returned to the office so that you can register in time to bid online. It is highly recommended that you register early, even if you're not planning on bidding until the last hour. This will ensure that your registration online is approved. 

If submitting the BIP Certification by email (info@greatwestteam.com), a copy of your valid government issued driver's license must be included.  The name on the license must match the name on the BIP Certification and the person who is bidding.

John Stephens

Broker of Record
GreatWestTeam.com
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