Rosemary Gem
Sold on August 23, 2021
from 7:00 PM to 7:00 PM UTC
Location
Rosemary, AB
Sale Size
1 Parcel, 160 ± Acres
Final
$700,000
Take advantage of the low Starting Bid on this 159-acre quarter section located in the County of Newell, Alberta. With 84 acres of water rights and significant surface lease revenue, this is an opportunity you will not want to miss.
Take advantage of the low Starting Bid on this 159-acre quarter section located in the County of Newell, Alberta. With 84 acres of water rights and significant surface lease revenue, this is an opportunity you will not want to miss.
Sale Details
Documents To Review
Sale Description
Located in the Eastern Irrigation District (EID) in the heart of the Palliser Triangle in the County of Newell, Alberta, this 159 acre ‘Rosemary Gem’ has a rich history. Thanks to the Canadian Pacific Railway (CPR) and a dream to settle the area, this once semi-arid grassland was transformed into highly productive agricultural land. This quarter section is still fed from the Bow River by a series of canals, flumes, reservoirs and a dam that the CPR developed in 1910. On April 23, 1935, the “Act to Incorporate the Eastern Irrigation District” was passed by the province of Alberta, spearheaded by the landowners who took over operations from the CPR. These landowners still own and operate the EID in what some call the ‘Land of Promise’. Oil and gas production on EID lands facilitates a net zero cost of irrigation per acre for land owners. The ‘Rosemary Gem’ boasts over $14,000 in annual surface lease revenue; serious cash flow for a solid investment.
This promise land consists of 84 acres of water rights, providing the fuel to grow high-yielding crops year after year. The balance of this parcel is currently in pasture with a large corral system and a small creek running west to east. The south end of the parcel could be turned over to cultivated land, creating excellent returns with additional arable acres and access to additional irrigation rights. Not only will this parcel provide a lift from an agricultural perspective, it is enviable from an investment standpoint as well. It is readily accessible via Highway 1, the Trans-Canada Highway - Canada's major east-west transport route - and Highway 36, which connects the Alberta Oilsands in the North to the United States border in the South.
Please review the Purchase Agreement in the Parcel Details section to see the specifics of the offer.
With consideration of low interest rates for lending and high commodity prices, you won’t want to miss this once in a lifetime sale which was last on the market in the 1930s. The ‘Rosemary Gem’ is being offered for sale by way of online electronic tender by CLHbid.com. Check our website for updates from time to time.
SLR: Parcel 1
Rosemary Gem 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.
Ready to Expand?
Create AccountCLHbid Makes Bidding Simple
The absolute transparency of this innovative format is a huge benefit to all parties involved. Bidders bid from the privacy of their own home on a set day.
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.
Learn MoreUpcoming Sales
Hazenmore On My Mind
Feb 5, 2025 at 4:00 PM UTC
Quad Opportunity
Feb 12, 2025 at 4:00 PM UTC
Innisfree Bonus
Feb 13, 2025 at 4:00 PM UTC
Can't Be Beatton
Mar 5, 2025 at 4:00 PM UTC