April 16, 2024

A whole lot of properties in Quebec change palms day-after-day, most of them with out us realizing the precise particulars. That was earlier than we got interested… Listed below are the newest transactions that caught our consideration.

The island of Sottise, this land within the L’Isle-aux-Grues archipelago that was just lately bought for $225,000, has simply been resold for greater than three and a half occasions the value paid in July.

In keeping with the notarized paperwork that we have been in a position to see, the actual property firm Gestion MTY, owned by the businessman Rémi Fortin, managed to acquire $800,000 for this island and all of the buildings situated there, additionally beneath the identify Domaine de l’Azur is understood. Ile de la Sottise.

Pierre-Olivier Vear, Remax

With a size of 883 meters and an space of ​​11.33 hectares, this island is situated in the course of the Saint Lawrence River, close to Montmagny, between the island of Sainte-Marguerite and the Grosse-Île.

Together with Saint-Antoine-de-l’Isle-aux-Grues, the place the painter Jean-Paul Riopel spent his closing years, Grosse-Île is one in every of solely two islands within the archipelago (with 21) that aren’t owned by personal pursuits.

Gestion MTY (to not be confused with MTY, listed) acquired this island final July from representatives of the nice descendants of the Pruneau household, homeowners of the property since 1889.

Quick profit for the ex-owner of a private island in the St. Lawrence River

Pierre-Olivier Vear, Remax

It features a 166 m2 chalet on two flooring, constructed forty years in the past, with eight bedrooms and two bogs. The place is barely accessible by boat or helicopter and is introduced as a goose looking paradise.

The value paid on the time: $225,000. A number of weeks later, the island was put again available on the market by MTY for $1,295,000. The brand new purchaser finally managed to decrease the vendor’s expectations and agreed to pay $800,000 for the acquisition. Gestion MTY will in the end have virtually quadrupled its funding.

The newest three-year evaluation listing for the parish of Saint-Antoine-de-l’Isle-aux-Grues reveals a price of $267,900, up 3.6% from the earlier evaluation. Added to the value paid by the customer are gross sales taxes (GST and QST) of $119,800 and switch taxes of $10,343.

With the contribution of Philippe Langlois.

Excerpted from the Journal’s weekly actual property column. If you happen to hear of an attention-grabbing transaction, don’t hesitate to share it at [email protected].