MICHAEL’S BAY – The three seized properties in Michael’s Bay have sold shortly after getting listed in mid-July, drawing an end to the federal government’s stewardship of the lands and sparking speculations of what use the property may see in the future.
J. James Bousquet Realty Inc. Brokerage broker of record Chris Bousquet said he received multiple offers on the lakefront properties near Carter Bay and one offer on each of the Royal Michael’s Bay Resort property and the seasonal log home.
The Expositor asked the agent to invite the successful purchasers to discuss their plans for the former resort for this story, but did not receive any correspondence by press time Monday.
This newspaper heard from a Sudbury developer who said the properties had been listed and sold in the same day to his dismay, as he had been interested in purchasing the resort for the past decade.
However, Public Services and Procurement Canada (PSPC) told The Expositor that all three properties had been listed for close to two weeks before the government began accepting offers.
“The length of time a property remains for sale on the market depends on many things such as time of year, location, condition and desirability. Properties in Ontario tend to sell faster than in other provinces. The real estate market in Manitoulin is very good right now with properties often receiving multiple offers within the first 24 hours,” said PSPC spokesperson Marc-André Charbonneau.
In addition, he said the Michael’s Bay disposition has been a very public process in recent years and widely discussed in forums such as this newspaper.
Mr. Bousquet had predicted that the three properties would sell quickly, especially given the pandemic-accelerated push for city dwellers to move to rural environments.
The Canadian government assumed control over Michael’s Bay at the request of the Belgian government; Belgian citizens had purchased the property using the proceeds of crime that they raised by selling illegal bovine growth hormone.
Michael’s Bay village (now a town site) was once the industrial hub of Manitoulin Island in the late 1800s but it dwindled into a ghost town a few decades thereafter.