Recent Million Dollar Sale: Waste Management Entrepreneurs Sell Knowlton Residence for Over Twice Its Valuation

2023-09-02 10:10:43

Every day, hundreds of properties change hands in Quebec, most of them without knowing the fine details. That was before anyone got interested in it… Here are the latest transactions that caught our attention.

A couple of entrepreneurs who have made a career in waste management have just sold their Knowlton residence for $2.7 million, more than twice its valuation.

The cedar-shingled property, reminiscent of the architecture of seaside homes in New England, is located at 342 and 343 Bondville Road. Covering an area of ​​26,500 sq. ft., it includes a main residence on the edge of Brome Lake, a detached double garage and a complete apartment for guests.

Mario Landry and Bianca Freeman, from Châteauguay, are known for their activities in the management of ecocentres, sorting centers and construction, demolition and renovation waste disposal in the Montreal and Montérégie regions.

They have drawn attention in recent years, following the Ministry of the Environment concluded that Groupe Mélimax and several related companies (Transport Rouville, Récupération Rouville, Conteneurs Rouville and Le Géant du Container, among others) were dumping their waste in a sandpit in the Valleyfield region, instead of upgrading them or managing them ecologically.

Result: the businesses of the Landry and Freeman couple were added to the Register of businesses not eligible for public contracts. In November 2021, 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 multiple exchanges of counter-offers, the couple agreed to a 6% reduction and sold for $2.7 million, confirm the notarized documents consulted.

At the last assessment roll, this property was assessed at $1,137,100, an increase of 43.83% compared to its previous assessment ($790,600). The property was therefore sold for more than twice its municipal assessment.

Transfer duties of just over $68,000, payable to the City of Lac-Brome, are added to the purchase price for buyers.

Excerpt from the weekly real estate chronicle of Journal. You have wind of a transaction of interest, do not hesitate to communicate it to [email protected].

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