Timed Auction - Sheridan Lawrence Inn    17ZA

Bidding Opens:10 AM Monday, July 24, 2017
Bidding Closes:3 PM   Saturday, August 05, 2017
Location:Fort Vermilion, AB
Municipal Address:4901 River Road, 50th St.
Auction Contacts:
David Froese780-841-7737
Realtor:
Moores Agri-Trade Ltd.
780-388-3759

This property sells @ as Timed Auction.  

Note: Buyers must pre-register with Moores Agri-Trade Ltd. before bidding on property.
Call Moores Agri-Trade Ltd. @ 780-388-3759


County Map

Directions to Property:
4901 River Road, 50th St.
Fort Vermilion, AB T0H 1N0

Moores Agri-Trade Ltd.

Realtor Info:

Moores Agri-Trade Ltd.
780-388-3759
www.mooresrealty.ca

Download PDF of Realtor Information Package


FULL SERVICE HOTEL with 16 guest rooms, restaurant, and pub with VLT's. Located across road from the mighty Peace River, guests can enjoy river view from restaurant & pub. The Sheridan Lawrence Inn is the only hotel in Ft Vermilion, the oldest town in Alberta. Located on 3 lots, includes 14 ft mobile home and cold storage 2 car garage. Increased traffic due to the Hwy 88 upgrade has had a positive effect on the volume of business.


S1: Sheridan Motor Inn

Inn was built 1974

16 guest rooms on two floors

48 seat restaurant - currently rented

Pub with capacity for 100 seated and 25 standing patrons

10 VLT units in the pub (were only nine, but one more has recently been added)

Off Sale room

Basement located under the pub and restaurant area includes meeting room, laundry room, boiler & mechanical room, 2 large bathrooms with showers and changing areas, room with gym equipment and there is even space for potential retail that is currently being used for storage & workshop.

Floor plans (not to scale) for all levels are included in this package.

Concrete block construction including every second interior wall.

Flat roof on restaurant and pub area, and a peaked metal clad roof over the two storey hotel section.

Attractive stucco exterior.

Heated with natural gas heat system, and is on town water and sewer.

14 ft wide 2 bedroom 1 bath mobile home and 2 car garage on Lot 10 are included. The garage has concrete floor, power, is lined and insulated and has overhead doors.

Seller is willing to help purchaser run business for first month if purchaser wishes.

Financial Statements available subject to signing Confidentiality Agreement

Note: Buyer will be required to obtain gaming license to maintain the VLT operation and beverage licence to continue operating the pub and liquor store.

Goods Included

BAR

Ice Machine

Upright small freezer

Popcorn Machine

Hot Dog Machine

Tables (25)& chairs (75 +/-)

Booths with tables

10 bar stools

10 chairs (VLT area)

Karoke machine & speakers

3 TVs

OFF SALES ROOM

3 Pop Coolers

RESTAURANT

11 tables & 48 chairs

All kitchen appliances

Kitchen & table ware

MISCELLANEOUS (located throughout Inn)

Workshop items

Replacements parts for toilets, etc

2 additional small fridges

4 microwaves

ROOMS

16 TVs

16 small fridges

16 microwaves

16 tables (various styles and sizes)

16 air conditioning unit (window install)

80 hangers (5 x16)

11 twin beds (mattresses & box springs)

11 queen beds (mattresses & box springs)

1 king bed (mattress & box spring)

Loveseats, easy chairs, chairs as viewed in rooms.

Room Linens & window coverings

Mattresses in storage

BASEMENT

Laundry equipment - 2 dryers, 4 washers

Exercise equipment

EXCLUSIONS:

Rented Items

ATM

Pool Tables (2)

Video Games (3) - Buck Hunter, Boxer, Multi-Game

Wall Juke Box and Receiver

Restaurant

Food Inventory and take out food packaging

Personal Effects

Computer in Office & Business Documentation & Files

BAR & OFF SALES INVENTORY

Seller plans on reducing inventory by completion date.

VLTS

Owned by AGLC. Phone line paid by AGLC. Bar Owner required to insure each VLT.

Download PDF of Realtor Information Package for more details

BASIC INFORMATION
ADDRESSSHERIDAN LAWRENCE INN 4901 RIVER ROAD FT VERMILION, AB
LEGALPLAN 2938RS BLK 2 LOT 11
TAXES$9,159.45 (2016)
ADDRESS4803 RIVER ROAD FT VERMILION, AB (OPEN LOT)
LEGALPLAN 2938RS BLK 2 LOT 13
TAXES$545.59 (2016)
ADDRESS4906 49 AVENUE FT VERMILION, AB (MOBILE HOME & GARAGE)
LEGALPLAN 2938RS BLK 2 LOT 10
TAXES$531.79 (2016)
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Terms & Conditions

  1. SELLER'S APPROVAL: In this auction, the acceptance of a bid price is subject to the Seller’s Approval.
  2. AGENT OF THE SELLER: Moores Agri-Trade Ltd. (Real Estate Brokerage) is acting only as agent of the seller and not as agent of the Purchaser. They will provide prospective buyers with all facts known to the agent that will or may affect the marketability or value of the property.
  3. PURCHASE CONTRACT: The Real Estate Purchase Contract that applies to the property is available for inspection prior to the auction. All bidders agree that, should their bid be accepted, they will complete and be bound by the terms of the purchase contract. Note: These contracts will not be subject to any buyer’s conditions.
  4. GST - any applicable GST is not included in The Purchase Price (Bid price).
  5. DEPOSIT: Immediately at the close of bidding the successful bidder will make a NON REFUNDABLE deposit payable to Moores Agri-Trade Ltd. (Trust) in the form of a bank draft, money order or other approved payment as follows:
    S1: Sheridan Motor Inn   $50,000.00
  6. COMPLETION DAY: Title for each parcel will be clear of encumbrances except those which are to remain on the title as shown on the Purchase Contract. Buyer will pay the balance of the purchase price to their lawyer on or before the Completion Day (). Possession will be in accordance with the terms of the Purchase Contract.
  7. NO WARRANTY: The Purchaser shall accept the Property as-is where-is and specifically agrees that neither the Seller, Auctioneer or Realtor makes any representations or warranties of any kind as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon. All information provided is meant as a guide only. In accepting a buyer registration number each bidder acknowledges receipt of the "Property Information Package" provided. The Purchaser shall have satisfied himself as to the descriptions, location and condition of the property prior to bidding.
  8. AUCTIONEER RESERVES THE RIGHT to accept or reject any bid and in all cases of dispute the auctioneer’s decision shall be final. If an auctioneer declares a property "sold" or "closes the bidding" and more than one party immediately claims to hold the high bid the auctioneer may declare who holds the high bid or re-open the bidding for further advances from the parties who held the high bid.
  9. TAPE RECORDING: Real estate auctions managed by Team Auctions are tape recorded. If it is necessary to verify any fact related to the sale a copy of the tape may be provided to the seller or a buyer.
  10. BUYERS FURTHER AGREE to be responsible for all charges to them including deposits on sale day, and subsequent payments as outlined in the Purchase Contract. It is understood that if any payment is not made or if any cheque given to Moores Agri-Trade Ltd. as payment is not honored that the buyer will face civil and/or criminal charges.

In accepting a buyer registration number all buyers agree to be bound by the above terms as well as any other conditions announced by the auctioneer.