Earlier this month we spread the news about the first online auction of Touchstone on Lake Muskoka properties by Gordon’s Estate Services. Now that round one has wrapped up with a complete sell out of all available fractions, the resort project is gearing up for rounds two and three.
Just how successful was the first auction? The properties were priced from as low as 15 per cent of the developer’s sales price and sold for more than double the published minimum bids!
“Round One was actually the most challenging round, focusing on the smallest units in the development, none of which were located on the waterfront,” explained Manson Slik of Gordon’s Estate Services, the firm managing the online auction.
“We expect the appeal of rounds 2 and 3 to be far broader, more exciting and appealing with an attractive mix of two-, three- and four-bedroom suites—and with every unit situated on the water.”
If you’re looking to spend time in beautiful Bracebridge, the project includes a number of condos and houses that measure up to 2,124-square feet. Round two starts soon – the online auction begins on June 7th and lasts until June 24th.
The upcoming round focuses on the expansive Grand Lodge two-bedroom spa suites, opening with one-eighth minimum (reserve) bids ranging from $14,000 to $14,500. Prospective buyers will also be able to bid on lake view cottages at The Cascasdes’ two- and three-bedroom villas and suites with one-eighth minimum (reserve) bids ranging from $14,000 to $27,500.
But if you’re looking for an ultra-luxurious Muskoka getaway, the second auction will also include a limited number of 4-bedroom Treetop Villa cottages (four fractions).
The third instalment runs July 5th to 22nd and will feature the resort’s Grand Muskokan beach side cottages’ three- and four-bedroom suites, with one-eighth minimum (reserve) bids ranging from $22,500 to $25,000. But if you didn’t move fast enough during the second round to snap up the luxe 4-bedroom Treetop Villa cottages, you can try again with the release of two more fractions (minimum bids set at $62,500).
Fractional ownership is a different form of part-time vacation home ownership. It’s not like time sharing as it provides a fully-deeded real estate holding to a specific unit registered in the buyer’s name.
Every property property is divided into one-eighth six- or seven-week fractions, with buyers allowed to purchase up to seven-eighths of an available property’s fractions.
For more information contact email@example.com or 1-705-641-4016.