Franks Resort - Miramichi NB, Canada

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Frank’s Resort in Miramichi New Brunswick was a holiday resort built to the highest standards and nestled on 87 acres on the Miramichi River, in New Brunswick, Canada, only a few kilometers from the city of Miramichi. 

It included:

  • several stand-alone cabins some of which were as large as 1600 ft2
  • 27 hotel rooms
  • 3,000 ft2 highly upgraded restaurant/bar
  • indoor pool house in excess of 3300 ft2
  • yoga studio
  • its own sanitation treatment facility

Although owning a resort of this calibre would be a source of pride for any hotelier, it also comes at a high cost, especially if your main offices are located Hannover, Germany. For this reason, the company decided Franks resort had to be sold. This however proved to be a difficult task for the local Realtors as the logistics involved in marketing and selling such a property was more than they were experienced to handle leaving Frank’s Resort to languished on the market for over three years with no prospective buyers and ever increasing maintenance costs.

After it’s third year on the market a representative of the hotelier contacted North American Auctioneers asking if we could hold a resort auction to sell the property within the summer. With plenty of experience in resort auctions we knew we could accomplish what was required and within a few days of this call we were on a plane to do an inspection of the property. Shortly after our return from New Brunswick, North American Auctioneers had an in depth marketing plan to sell the property within 45 days at the sellers reserve price or greater. Our proposal was quickly accepted and North American Auctioneers set into motion the international marketing plan for the resort auction that encompassed Europe, Asia, the US and Canada.

Inquiries and requests for viewings came in from all over the world and on auction day despite being pummelled by Hurricane Dorian, we sold the property for almost 30% more than what the sellers had set for their reserve price, with a 90-day no condition close.  

#NorthAmericanAuctioneers #NAA #RealEstateAuction #Auction #PropertyAuction #PropertyForSale #holidayresort #NewBrunswick #Miramichi ##CommercialRealEstate #CommericalAuction #CommericalForSale

 

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AUTHOR’S NOTE:

Michael Marienwald is founder and president of North American Auctioneers, Broker of record for Anchor Realty and president of Mountain Realty. He is one of 4 Accredited Auctioneers of Real Estate in Canada, and a Certified Real Estate Auctioneer. Michael has been selling Real Estate conventionally and through auction throughout Canada since 1989 and has also taught Real Estate auctioning at the Ontario School of Auctioneering. 

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