Manitouwadge Hotel For Sale By Township
Manitouwadge Motor Hotel was once a very popular place for business travellers, ATV enthusiasts, seasonal hunters and others to stay; it is hoped a potential investor will see this potential once again. Photo OntarioNewsNorth.com
MANITOUWADGE, ON – As many people in Northern Ontario are aware, though Manitouwadge has a variety of accomodations providers from Vacation Homes to traditional Bed & Breakfasts, it has been without a motel for approximately 4 years. This might be about to change in the near future.
The Township of Manitouwadge is working towards selling the property in the attempt to attract an investment into the community. A request for proposals will be going out in August 2011 to try and attract investment into the building and property with a small minimum asking price of only $10,000 for the building and 4 acres of property in the centre of town. Along with asking for a financial offer to purchase the property, the Township of Manitouwadge is asking for a business plan summary and timeline to be attached to the offer to purchase so that the Township can choose the best possible business that adds the most value to the community.
“Although we are anticipating requests from investors who want to revitalize a motel, the Township will consider a number of different ideas from investors who submit a proposal for the property which may or may not include a solution to much needed accommodations in the community.” said EDO Dave Raymond.
The property known as the Manitouwadge Motor Motel has been a priority for the Township staff to bring it to a point where it can be sold for a new owner to operate. A study on the need for accommodations in Manitouwadge and an evaluation of the motel property was conducted in 2010 and has stated that the Motel may be salvaged for an estimated cost of three hundred thousand dollars ($300,000.00). A copy of this report is available for your review.
“Although the Accommodation Study is not entirely positive, there is definitely potential and I believe that there is an opportunity for a motel
to succeed in Manitouwadge with the right mix of investment and operating know how” It has also been noted that there is some urgency with respect to the timing of the sale of the motel and investment needs to be made in the property as soon as possible before the cost of salvaging the building becomes increasingly higher. The operation of a motel in Manitouwadge is very important to all aspects of the community. Within the next few weeks the property will be ready to put up for sale says EDO Dave Raymond, in an attempt to attract an investor.
The Economic Development Department plans to advertise the sale of the property aggressively in local, regional, and national markets and use the township website to provide a page related to the sale. Timing of this sale is prudent and the Economic Development Department will make this a priority.
If you are a potential investor and would like more information regarding this property and the terms of sale, keep reading OntarioNewsNorth.com and/or contact Economic Development Officer Dave Raymond via email at EDO@Manitouwadge.ca or by phone at 807.826.3227.
