Manitoba Jackpot
Sold on July 10, 2024
from 3:00 PM to 4:00 PM UTC
Location
Virden, MB
Sale Size
1 Parcel, 147 ± Acres
Final
$525,000
This wide-open quarter consists of 147 Acres selling as 1 Parcel on the edge of the town of Virden, Manitoba. With industrial development on three sides, the only subdivision removed from the quarter sold for $192,600 for just 11 Acres. Pull the handle on sale day and hit the Jackpot in the years to come.
This wide-open quarter consists of 147 Acres selling as 1 Parcel on the edge of the town of Virden, Manitoba. With industrial development on three sides, the only subdivision removed from the quarter sold for $192,600 for just 11 Acres. Pull the handle on sale day and hit the Jackpot in the years to come.
Sale Details
Documents To Review
Legal Land Descriptions
NW-26-10-26-WPM | 147.46 Acres |
Sale Description
‘Manitoba Jackpot’ is comprised of 147 acres that are open from corner to corner, all bordering the town of Virden, Manitoba. Virden has always been known for having a strong, diverse economy and was named the Oil Capital of Manitoba over 75 years ago. The founders of MNP, Boston Pizza, Mr. Lube, and TransX all originated out of Virden. ‘Manitoba Jackpot’ is surrounded by industrial development on three sides and paved roads form the northern and western boundaries of the Parcel.
Manitoba Jackpot
The Virden Airport is located just across the road to the north of the Parcel, and the Town has recently applied for funding to lengthen the runway to 6,000 feet to encourage outside businesses to relocate. The major Canadian Pacific Railway line is in proximity, and situated just 40 miles west of Brandon, Virden sits at the midpoint between Regina and Winnipeg on the Trans-Canada Highway. With the major intersection of Highway 83 (south) and TransCanada Highway 1 (east-west) nearby, this Parcel offers endless potential for startup businesses requiring hydro, gas, septic, and town water, in an area with a strong labor pool.
With a Starting Bid set below what an acre of commercial land may sell for in Winnipeg or Saskatoon, ‘Manitoba Jackpot’ should be in the crosshairs of any Western Canadian business owner's eyes looking for substantial acres with unrestricted access to highways, rail, and air transportation. The only subdivision out of the quarter to date was an 11-acre subdivision of raw land in the southwest corner that sold for $192,500. At $17,500/acre, do the math on the potential for the remaining 147 acres. The quarter's gentle slope and geotechnical structure are conducive to cost-efficient development.
Whether looking for the perfect place for a Casino, Greenhouses, or a Solar Farm, ‘Manitoba Jackpot’s’ major Hydro line adjacent to the Parcel offers endless opportunities. Check out the possibilities beside a town known for supporting and aggressively encouraging economic diversity. Enjoy the benefits of developing your dream, rural business in a municipality that offers a steady tailwind instead of a draining headwind.
Manitoba Jackpot
‘Manitoba Jackpot’ is the epitome of an investment with a huge upside and no downside - who says you can't have it all? Did we forget to mention that ‘Manitoba Jackpot’ is currently open, expansive farmland? While it may not be Red River Valley soil, the Canada Land Inventory listed Number 4 soil with a sandy texture is not really a significant negative when considering oilseed or legume crops that prefer percolation as opposed to hardpan soil structures. The region is known for its extended growing degree days, which allows for more cropping options.
‘Manitoba Jackpot’ has been sitting on idle while seeded down to hay; however, given today's agronomics, the owner will undoubtedly be looking at cropping going forward. The real jackpot may be discovered when your kids or grandkids decide to cash in, but if investing in farmland, why not invest in land with another huge upside in addition to crop production?
Manitoba Jackpot is being offered for sale via online escalating tender by CLHbid.com. Check the website for updates from time to time. The property may be viewed by interested registered bidders. Please contact us by email at info@clhbid.com for an appointment. As a law firm, CLHbid never discloses bidder's names to any party, including the Seller. Only the successful buyer's name is ever disclosed to the Seller as part of the closing process.
Proven Results
from satisfied buyers
Frequently Asked Questions
There are existing auction platforms out there such as the ‘Iowa Auction’ that stop bidding after all individual parcels have received high bids. Then for round #2 of the auction they allow past as well as new bidders to ‘up the ante’ by bidding on the entire farm or ranch with a reserve bid set at the aggregate price just bid on all individual parcels in round #1.
After seeking input from many farmers and ranchers, most told us they didn’t feel a platform such as this was fair to bidders on individual parcels who in many cases have went to a lot of work to get pre-approved for financing etc. Farmers and ranchers also indicated they didn’t think it is fair for a large player to ‘lay in the weeds’ and not bid until after the initial round of bidding. They also told us that it would not be fair to allow a larger player to acquire the entire farm or ranch for only a few dollars more than the aggregate of the prior individual bids. Hence the rationale for the ‘premium bid’ amount for the ‘en bloc’ parcel at the conclusion of the auction.
At CLHbid.com, you as bidder only need to be high on a certain number (generally less than 50%) of parcels in order to have a chance to acquire the entire farm or ranch, whereas at national Auction firms you generally have to be high on 100% of the parcels in order acquire the entire ranch or farm.
Bidders have no knowledge of the identity of other bidders. Likewise, the Seller during the sale is not privy to who may be bidding or how many parcels someone may be ‘high on’. At CLHbid.com we set out to create a platform for the selling or leasing of agricultural land that was honest, fully transparent and offered no opportunity for bids to be shopped by the Seller. This is especially important wherein the Seller has final approval.
At CLHbid.com we have put safeguards in place in our CLHbid.com contract with our Seller to ensure the Seller deals only with the high bidder at the conclusion of bidding. During the timed auction itself, all back-end information is locked down including who is bidding or who is registered to bid. At the conclusion of the bidding, the Seller is privy only to the name of the high bidder on each parcel.
The minimum increment for bidding is set prior to each specific sale in consultation with the Seller. The increments are set having regard to the FMV of the parcel being sold with more expensive parcels generally having larger increments.
We have all been to live auctions where a quarter of land worth $500,000.00 starts at $100,000.00. The parcel is then bid up in large increments initially with the increments gradually decreasing in size as the bidding approaches the end. At CLHbid.com, given our predetermined minimum increments, we try and speed up the process by starting the bidding at what we see as a reasonable number to start serious bidding at, yet a number still below FMV.
In addition, given the ‘en bloc’ final parcel bidding option offered at CLHbid.com, we require a floor number for each individual parcel in the unlikely event a specific parcel doesn’t receive a bid, yet at the conclusion an eligible bidder wishes to bid on the entire farm or ranch. In such a case, the Starting Bid becomes the value to be used for that Parcel not receiving a bid when determining aggregate bids. It is important to note the Starting Bid is not a Reserve Bid.
PLEASE NOTE: Not all CLHbid.com sales have an ‘en bloc’. Please review the particulars of each sale for clarity.
No. The Seller waives their right to approve the sale if there is a bid on the ‘en bloc’.
This is really no different than in the tendering process wherein Tenders stipulate “any and all tenders will not necessarily be accepted”. One issue with tendering is the cost to put a tender in the paper is nominal and there is always a risk of the Seller perhaps just feeling out the market or wanting to know the names of the parties interested.
At CLHbid.com one of the paramount reasons for allowing the Seller final say is to alleviate the need for an expensive Guarantee to the auction house – expensive and seldom called upon yet often required by the Sellers bank. The Seller’s bank doesn’t require the Seller to purchase a Guarantee when using the CLHbid.com platform wherein the sale is at the Seller’s discretion.
CLHbid.com incurs significant marketing costs in the event the Seller fails to accept the high bid(s). The Seller is under contract with CLHbid.com and the contract references trigger values indicating when the right of the Seller to refuse a sale is taken away.
At CLHbid.com, our Sellers are fully invested in the process meaning the likelihood of a high bid not being accepted is extremely remote.
No. At CLHbid.com there is no advantage to waiting to bid. Our platform has a ‘refresh’ function on the clock such that any bid placed near the expiration of the timed sale will automatically re-set the clock adding additional minutes to the clock giving all parties (including the bidder that was just outbid) another opportunity to bid.
At CLHbid.com we take the human element out of the process. During the bidding process if you are high, you will receive an online notice saying you are High Bid. If you get outbid you will receive an online notice saying you were Outbid. Immediately upon expiration of the timed sale, the high bidder will receive an email indicating they were the HIGHEST BIDDER.
All emails are auto generated. The question cannot arise as to whether you were high or not or “was it shopped to someone they liked better” such as when tendering land.
No. The Starting Bid is just that. The first bid required for a Parcel is the Starting Bid and not some number above it. If you are the initial bidder and just bid the basic minimum increment your Current Bid will be the Starting Bid number.
CLHbid.com doesn’t publish the name of the high bidder. We do, however, disclose the name of the high bidder to the Seller as they are then in a contractual agreement to buy and sell. We leave it up to the high bidder and Seller to tell whomever they wish.
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The sale starts and finishes in a matter of hours and the time will extend if bids are placed in the last two minutes of the sale. As confidentiality and honesty are paramount to us, bidders names are never released.
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