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500 Class A Shares in Borden Bridge Development Corporation Langham ( Saskatchewan, CA ) Built

$3,678,000
50% Interest in BBDC 500 Class A Shares

Hammond Realty

Kevin Jarrett Kevin Jarrett (306) 441-4152 (Cell) Request More Info

  • Type: Farm and Ranch
  • Style: Lot / Land
  • Development Level: Built
  • Lot Type: Irregular
  • Lot Size: 613.8 acres

Description

FOR SALE: 500 Class A Shares representing 50% interest in BORDEN BRIDGE DEVELOPMENT CORPORATION

General Business Description
Borden Bridge Development Corporation (BBDC) was incorporated February 18, 2015. The company carries on the business of acquiring, managing, holding, developing, and otherwise dealing with land and/or real estate. BBDC leases their property to Glacier FarmMedia (GFM), a subsidiary of the remaining 50% partner, GVIC Communications Corp. GFM utilizes the property for an annual outdoor farm trade show event, Ag in Motion (AIM). The event has experienced tremendous success and growth since the inaugural show in 2015.

Financial
Borden Bridge Development Inc. receives rental income from the tenant. There are typically three expense: 1) legal/accounting 2) property taxes and 3) mortgage interest. The majority expense is mortgage interest.
Rental income goes to cover mortgage payments. 50% of the mortgage could be paid out from share sale proceeds or assumed as part of payment for the purchase price. Sellers are flexible.
It generates a modest return on investment, but the real opportunity lies with potential future uses of the location and remaining undeveloped farmland. Financials are available for serious buyers only. Sale is subject to shareholder approval.

Assets (Real Estate)
Assets of the corporation are comprised of four farmland parcels in RM 344 Corman Park near Langham, SK on Canada’s Yellowhead Highway #16. Permanent leasehold improvements made to the property for AIM are estimated at more than $2,000,000.

SAMA Information
613 Total Acres
4 quarter sections
598 Arable/Cultivated Acres
15 Wetland/Bush Acres
$782,500 Total Assessed Value
$204,241 Average Assessment per 160 Acres
60.9 Soil Final Rating (Weighted Average)

$3,678,000 Farmland Price (Equivalent acre)
$11,984 per Total acre (Equivalent ISC acre)
9.40 times the Assessed Value (Equivalent Multiple)

Attachments

P2#399320911
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Information is deemed to be correct but not guaranteed.

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