Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.
A pair of entrepreneurs who made careers in waste management just sold their Knowlton home for $2.7 million, more than double its value.
The cedar-shingled property, reminiscent of the architecture of New England coastal homes, is located at 342 and 343 Chemin de Bondville. Measuring 26,500 square feet, it includes a primary residence on the shores of Brome Lake, a detached two-car garage and a full guest apartment.
Mario Landry and Bianca Freeman from Châteauguay are known for their activities in the management of eco-centers, sorting centers and the disposal of construction, demolition and renovation waste in the Montreal and Montérégie regions.
They attracted attention in recent years after the Environment Ministry concluded that the Mélimax group and several related companies (including Transport Rouville, Récupération Rouville, Conteneurs Rouville and Le Géant du Container) were dumping their waste into a sand pit in the Valleyfield -Region instead of upgrading it or farming it ecologically.
Result: The companies owned by Landry and Freeman were included in the register of companies ineligible for public contracts. In November 2021, The Container Giant was purchased by Environmental 360 Solutions, or E360S, a company in Aurora, Ontario.
Engel & Volkers
The Engel & Völkers team had listed the property at $2,885,000. After exchanging counteroffers multiple times, the couple agreed to a 6% discount and sold for $2.7 million, according to notarized documents viewed.
At last appraisal, this property was valued at $1,137,100, an increase of 43.83% from the previous valuation ($790,600). The property was therefore sold for more than twice its municipal valuation.
Added to the purchase price for buyers are transfer fees of just over $68,000 payable to the City of Lac-Brome.
Excerpted from the Journal’s weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected].