Lake Timiskaming · Ontario
Sunnydale
A 4.83-acre waterfront peninsula within the boundaries of the City of Temiskaming Shores.
Two residences, five winterized cottages. Offered as the share sale of a going-concern Ontario corporation.
743022 & 743024 Dawson Point Road
Province of Ontario
Share sale, going concern
About this
memorandum.
This Offering Memorandum has been prepared in support of the sale of Sunnydale Cottages, a waterfront hospitality property on Lake Timiskaming in the City of Temiskaming Shores, Ontario. The transaction is structured as the sale of 100% of the shares of the operating Ontario corporation (the "Company"), which holds both parcels and operates the business as a going concern. The corporate name will be disclosed to qualified purchasers under the terms of a non-disclosure agreement in the late stages of negotiation.
The document is organised into eight numbered sections covering the property, its improvements, operating profile, market context, financial summary, comparable transactions, and the proposed transaction structure. A personal letter from the vendor appears at Appendix B.
Information contained herein has been compiled from sources believed reliable, including a 2024 independent appraisal by Morland Real Estate Appraisals Ltd. and the operating records of the Company. Recipients are advised to undertake their own independent diligence and to seek their own legal, tax, and accounting advice before transacting.
The order of
the document.
- I. Investment HighlightsThe opportunity at a glance. 03
- II. The PropertyLand, frontage, parcel structure. 05
- III. The ImprovementsBuilding inventory and condition. 06
- IV. Operating ProfileGuest mix, demand drivers, intangibles. 08
- V. Market OverviewLake Timiskaming and the region. 09
- VI. Financial SummaryStabilized income and operating costs. 10
- VII. Comparable TransactionsEight regional resort sales, 2022–2024. 11
- VIII. Transaction StructureShare sale and process timeline. 12
- App. A Appraisal FindingsSelected findings, Morland 2024. 13
- App. B A Note from the VendorPersonal letter to the successor. 13a
- App. C Notices & DisclaimerStandard offering notices. 14
Investment Highlights.
A rare, going-concern hospitality asset on one of Ontario's most distinctive inland lakes, with grandfathered shoreline placement, stabilized income, and a clean share-sale structure.
-
01
Grandfathered shoreline.
Five cottages and a private breakwall placed within the immediate waterfront setback. The current placement predates Ontario Regulation 146/06; comparable construction is no longer permitted for new builds.1
-
02
Two residences plus five cottages.
±5,320 sq ft of principal-residence inventory in addition to the cottage operation. Either dwelling may be operated independently as a stand-alone single-family residence.
-
03
Stabilized net operating income of $121,000.
Third-party appraisal projects stabilized NOI at $121,000 against assumed occupancy of 65% on short-term inventory.2
-
04
Diversified, non-discretionary demand.
Documented guest mix includes locum healthcare professionals, mining and forestry consultants, agricultural contractors, and recreational guests — a year-round, non-seasonal base.
-
05
Within city limits, on the water.
The Property sits inside the boundaries of the City of Temiskaming Shores — five minutes from the New Liskeard core, hospital, banking, and municipal services. The combination of in-municipality location with a 4.83-acre waterfront peninsula is, by the appraiser's account, without close comparable in the regional market.
-
06
Limited comparable inventory.
The appraiser characterises market activity as constrained "not due to a lack of demand but rather due to a scarcity of similar style improvements."3
-
07
Clean share-sale structure.
Acquisition of 100% of the shares of the operating Ontario corporation. Operating history, financial statements, and capital-improvement record available upon request.
-
08
Direct rail to Toronto Union Station from 2026.
Ontario Northland's reinstated Northlander service places a passenger-rail station within the City of Temiskaming Shores. Few waterfront commercial assets in the province offer both highway and dedicated passenger-rail access to the Greater Toronto Area.
- Ontario Regulation 146/06 (and related conservation authority regulation) restricts new development within prescribed shoreline setbacks. The Property's improvements predate these regulations and remain legally non-conforming.
- Morland Real Estate Appraisals Ltd., Appraisal of Sunnydale Cottages, 2024 — completed for the Company's commercial lender following substantial completion of the 2021–2024 capital programme. Stabilized projection; actual results will vary with operator quality and market conditions.
- Ibid., comparables discussion. Quotation reproduced from the report.
The Property, from above.
Sunnydale occupies a peninsula on the western shore of Lake Timiskaming. The five cottages are set along the shoreline with a private stone breakwall to the south; the two principal residences are set back along the access lane. The site is bordered to the west by Dawson Point Road and to the east by the lake. The aerial below shows the immediate waterfront — the cottage placement, the breakwall, and the private dock.
The Property.
A consolidated 4.83-acre peninsula site comprising two adjacent parcels, with approximately 242 feet of direct shoreline on Lake Timiskaming.
II.1 · Site
The site consists of two adjacent parcels — civic addresses 743022 and 743024 Dawson Point Road — totalling 4.83 acres within the boundaries of the City of Temiskaming Shores. The Property occupies a peninsula on the western shore of Lake Timiskaming at the wide northern basin of the lake, with the Quebec border running through the open water to the east. The two parcels are held by a single corporate owner and are offered together.
II.2 · Shoreline
Direct shoreline of approximately 242 feet on Lake Timiskaming, with a private stone breakwall providing harbour-style protection to the southern shore. Docking is private. Shoreline allowance is owned, not Crown-held.
II.3 · Servicing
Two drilled wells. Septic system. Hydro and natural gas are connected and supply all structures on site. Commercial-speed internet provided by Eastlink is installed for business-grade use.
Site Particulars
| Item | Particular |
|---|---|
| Civic address | 743022 & 743024 Dawson Point Road |
| Municipality | City of Temiskaming Shores Within municipal boundaries |
| Parcels | Two, contiguous |
| Site area | 4.83 acres |
| Frontage | ±242 ft |
| Depth | ±1,384 ft |
| Shape | Pie / peninsular |
| Waterbody | Lake Timiskaming |
| Shoreline allowance | Owned |
| Zoning | C4-1 Tourist Commercial (Exception 1)4 |
| Property tax (2025) | $14,000 combined |
| Servicing | Hydro, natural gas, 2 drilled wells, septic |
Source: MLS T13023876, OREA Form 200 (April 2026), GeoWarehouse, Morland Appraisal 2024.
- City of Temiskaming Shores zoning by-law, Exception C4-1 specific to 743022 Dawson Point Road. Permitted uses are restricted to an accessory dwelling and rental cabins. (The site falls within the pre-amalgamation Township of Harris geographic area; the operating municipality is the City of Temiskaming Shores.) Zoning documentation available in the data room.
Survey reference.
Reference plan excerpt identifying the two parcels comprising the Property — PART 15 (743024 Dawson Point Road) and PART 16 (743022 Dawson Point Road, highlighted). The survey records the "present controlled water's edge" and the registered placement of the structures within the immediate shoreline setback — the placement that predates Ontario Regulation 146/06 and provides the legally non-conforming status referenced throughout this Memorandum.
Source: Surveyor's reference plan, filed. Complete survey available in the diligence package on serious inquiry.
The Improvements.
Eight buildings comprising two principal residences, five winterized housekeeping cottages, and a bunkie. Combined built footprint approximately 8,300 sq ft.
III.1 · Building Inventory
| Structure | Bed / Bath | Area (sq ft) | Use |
|---|---|---|---|
| Owner's Residence2-storey, attached garage, custom finishes | 4 / 3 | ±2,640 | Principal dwelling |
| Chalet-Style Dwelling2-storey, upstairs rentable as separate rooms | 5 / 4 | ±2,680 | Second dwelling / rental rooms |
| Cottage 1Winterized, NG fireplace | 2 / 1 | ±650–700 | Short-term rental |
| Cottage 2Winterized, NG fireplace | 2 / 1 | ±650–700 | Short-term rental |
| Cottage 3Winterized, NG fireplace | 2 / 1 | ±650–700 | Short-term rental |
| Cottage 4Winterized, NG fireplace | 2 / 1 | ±650–700 | Short-term rental |
| Cottage 5Winterized, NG fireplace | 2 / 1 | ±650–700 | Short-term rental |
| BunkieShoreline accessory structure | — | — | Ancillary |
| Total | 17 / 13 | ±8,300 | 2 dwellings + 5 rental |
III.2 · Condition & Capital
Both principal dwellings are assessed by the appraiser as "superior to nearly all of the [comparable] owner's residences" in the surveyed region.5 Both have radiant-style heating systems.
The cottages are heated with natural gas fireplaces and have been maintained on a continuous basis. The appraiser concludes that the rental structures "are not considered to be near the end of their economic life."
Significant cosmetic and mechanical updates have been completed within the last five years, including kitchen and bathroom renovations in the principal residence, interior finishing, the installation of a commercial-speed Eastlink internet connection, and the deployment of a 4K security infrastructure across the site.
III.3 · Mechanicals & Systems
| System | Particular |
|---|---|
| Heating | Natural gas, three fireplaces |
| Water | Two drilled wells |
| Wastewater | Septic |
| Electrical | Hydro, full distribution |
| Internet | Commercial-speed Eastlink |
| Security | Commercial Dahua 4K PTZ array, Blue Iris NVR, VPN remote access, EcoFlow battery backup |
| Shoreline | Private stone breakwall |
| Docking | Private |
III.4 · Absentee Operations
The site has been configured for remote oversight by an owner whose business or personal interests require regular travel. The Dahua PTZ array provides 4K coverage of the peninsula, road approach, dock, and cottage row; recording is to a local Blue Iris server with encrypted VPN access from any location, backed by EcoFlow battery infrastructure that retains recording capability through power interruptions. The booking platform is cloud-based and operable from any device.
- Morland Real Estate Appraisals Ltd., 2024. Section 3.03.2 (Buildings) and comparable-sales discussion.
The improvements,
illustrated.
Interior finish.
The two principal dwellings have been renovated to a standard the appraiser characterises as "superior to nearly all of the [comparable] owner's residences."5 Kitchen and master-bath renovations are documented below.
Operating Profile.
The cottage operation has historically served a diversified, non-discretionary demand base across professional, industrial, and recreational segments — a profile that reduces seasonality risk and supports stable occupancy.
IV.1 · Guest Mix
The Property's operating history reflects a guest base anchored by long-stay professionals — locum physicians and healthcare specialists, mining and engineering consultants serving the regional gold-mining operations, forestry and infrastructure contractors, and agricultural professionals — alongside conventional recreational and seasonal guests.
This diversification produces a year-round occupancy pattern rather than the strongly seasonal pattern typical of cottage-style operations elsewhere in the province.
IV.2 · Demand Drivers
New Liskeard hosts the principal hospital, banking, schools, and municipal services of Temiskaming Shores. The regional economy combines healthcare, government, forestry, agriculture (the Little Clay Belt agricultural region), and tourism. Gold-mining operations north of the region — including those of major producers in the Kirkland Lake and Timmins districts — drive contractor and consultant demand.
The return of Ontario Northland's Northlander passenger rail service in 2026 brings a station directly to Temiskaming Shores, with through-service to Toronto Union Station. The Property is positioned to benefit from the expansion of the southern-Ontario recreational and professional guest segment that direct rail access enables.6
IV.3 · Inventory Composition
| Inventory | Units | Use |
|---|---|---|
| Short-term cottages | 5 | Year-round let |
| Chalet upstairs rooms | 4 | Per-room rentable |
| Chalet, full | 1 | Whole-dwelling let |
| Principal residence | 1 | Owner-occupied or let |
IV.4 · Regulatory Position
The operation is conducted under C4-1 Tourist Commercial zoning. Short-term and transient accommodation use is permitted under the zoning exception applicable to the site. Purchasers will satisfy themselves as to the application of applicable provincial accommodation legislation through independent counsel.
IV.5 · Intangible Assets & Operating Infrastructure
At acquisition by the current ownership, Sunnydale Cottages operated on word-of-mouth, telephone reservations, and original signage. Under current ownership the operation has been professionalised. The following intangible and operational assets, none of which were extant at acquisition, are conveyed with the share sale of the operating Ontario corporation:
| Asset | Particular |
|---|---|
| Booking website | sunnydalecottages.ca Direct-booking site under vendor control |
| Reservation system | letscamp.ca calendar & booking Integrated with the website |
| Vanity telephone number | 705-34-SUNNY (705-347-8669) In service on all marketing |
| Brand identity | Sunnydale Cottages mark, logo, signage, on-site monument |
| Guest database | Repeat-clientele records across professional, healthcare, and industrial segments |
| Operating procedures | Cleaning, turnover, winterization, and seasonal-maintenance protocols |
These items represent the operating infrastructure built under current ownership over the period 2021–2024. They are material to the operation as a going concern and are transferred at closing as part of the share sale. The vendor will provide a defined transition-handover period at the purchaser's request.
- Ontario Northland, Northlander Service Resumption, projected 2026. The Property is served by a station within the City of Temiskaming Shores, with through-service to Toronto Union Station. Purchasers are advised to verify station and schedule particulars directly with Ontario Northland.
Market Overview.
Lake Timiskaming and the Temiskaming Shores region — a distinct submarket characterised by limited inventory, an agricultural microclimate, and improving rail connectivity to southern Ontario.
V.1 · The Lake
Lake Timiskaming forms part of the Ottawa River system and provides approximately 100 kilometres of navigable waterway extending north into Quebec and south toward Témiscaming. The lake supports fishing, boating, sailing, ice fishing, and snowmobile activity through the winter months. The western shore — on which the Property is located — is in the Province of Ontario.
V.2 · The Region
Temiskaming Shores is the largest municipality in the Timiskaming District, with a regional service area extending approximately 100 km in all directions. The area combines healthcare, education, government, forestry, mining services, and agriculture. The Little Clay Belt — a band of fertile post-glacial soils running through the region — supports a small but growing agricultural sector, including grain, dairy, and specialty produce.
V.3 · Connectivity
Highway 11, the principal north–south corridor of northeastern Ontario, runs immediately west of the Property and provides year-round road access to North Bay, Sudbury, and the Greater Toronto Area. From 2026, Ontario Northland's reinstated Northlander passenger service places a station within the City of Temiskaming Shores, with direct through-service to Toronto Union Station. The Property is therefore among a small number of waterfront commercial assets in the province offering both highway and dedicated passenger-rail access to the GTA.
V.4 · Locational Particulars
| Destination | Distance |
|---|---|
| New Liskeard centre | 5 min · 4 km |
| Temiskaming Hospital | 7 min |
| Northlander station (2026) | In-municipality |
| North Bay | 1h 50min |
| Rouyn-Noranda, QC | 1h 30min |
| Sudbury | 3h 10min |
| Toronto, via Hwy 11 | 5h 30min |
| Toronto Union Station, via rail | Direct, from 2026 |
| Ottawa, via Hwy 17 / 533 | 4h 30min |
Source: Google Maps; Ontario Northland announcements.
V.5 · Agricultural Microclimate
The Property sits within the Little Clay Belt, a band of post-glacial lacustrine soil deposited by ancient Lake Barlow-Ojibway. The combination of clay-loam soil, the moderating effect of Lake Timiskaming, and the longer day-length of northern latitudes produces a growing season distinct from the surrounding Canadian Shield and notably hospitable to fruit cultivation.9
The vendor has planted a working orchard of specialized northern-climate cultivars sourced from Whiffletree Nursery (Ontario) including cross-bred sour cherry varieties developed by the University of Saskatchewan. Apples, pears, plums, apricots, mulberries, haskaps, and table grapes are established and producing. The orchard is incidental to the cottage operation but provides a continuing amenity for guests and operators.
V.6 · Site Microclimate
The Property's peninsular position and exposure to prevailing lake winds produce notably lower mosquito and blackfly density than surrounding inland sites — a material consideration for any northern Ontario hospitality asset, where insect pressure is the most frequently cited guest concern. The lake breeze also moderates summer temperatures and shortens the snow-clearing burden in winter compared with inland properties of similar latitude.
New Liskeard's geographic position — west of the main snowbelt corridor that runs through Barrie–North Bay — produces meaningfully lower annual snowfall than is commonly assumed of northeastern Ontario. Environment Canada normals for the Temiskaming Shores reporting station confirm this pattern.
- The Little Clay Belt extends through the Timiskaming and southern Cochrane districts. The region is recognised by the Ontario Ministry of Agriculture as supporting commercial dairy, grain, oilseed, and increasingly specialty horticultural production. Cultivar specifications and planting records available in the data room.
Regional scarcity.
The map below identifies the operating cottage-resort properties within a one-region radius of the Property. The full extent of the area spans approximately 326 km west-to-east; the entire region supports five comparable operations. Sunnydale is the only one located within the boundaries of the City of Temiskaming Shores. This distribution corroborates the appraiser's characterisation of the market as constrained "not due to a lack of demand but rather due to a scarcity of similar style improvements."3
Properties identified: Sunnydale Cottages (subject); Poplar Point Camp (Elk Lake); Mowat Landing Cottages (Mowat Landing); Gillies Lake Cottages (Cobalt); Maiden Bay Camp (south Lake Timiskaming). The set is illustrative; additional operators may exist within the broader region.
Aurora, observed.
Lake Timiskaming sits at approximately 47.5° north latitude, on the southern margin of the auroral oval. Aurora borealis events are observed from the Property regularly through the autumn and winter months, when atmospheric and solar conditions align. The photograph below was taken from the Property's lawn.
Financial Summary.
The financial summary set out below is drawn from the 2024 third-party appraisal stabilised pro forma. Trailing actuals are available upon request to interested purchasers.
VI.1 · Stabilized Revenue
| Line | CAD |
|---|---|
| Short-term rental income | 332,400 |
| Owner's residence rent | 33,600 |
| Total potential gross income | 366,000 |
| Less: short-term vacancy @ 35% | (116,340) |
| Less: residence vacancy @ 4% | (1,344) |
| Effective gross income | 248,316 |
VI.2 · Stabilized Expenses
| Line | CAD |
|---|---|
| Property taxActual, both parcels combined | 14,000 |
| Salaries & wages | 50,000 |
| InsuranceActual annual premium | 9,000 |
| Maintenance & snow removal | 15,000 |
| Utilities | 15,000 |
| Supplies, advertising, telecom, banking | 16,145 |
| Total expenses | 119,145 |
The vendor-adjusted NOI reflects actual annual insurance premium of $9,000, compared to the appraiser's regional-comp estimate of $16,800; all other line items follow the Morland stabilized projection. The lower-than-survey cap rate reflects the sum-of-parts contribution of two principal dwellings capable of operating as stand-alone single-family residences in addition to the cottage operation.
- Morland Real Estate Appraisals Ltd., 2024. Cap rate survey of tourist commercial sales in Sudbury, Blind River, North Bay, and Parry Sound / Muskoka regions. The Property's pricing is informed by both the income approach and the sum-of-parts contribution of two dwellings capable of operating as stand-alone single-family residences; the lower-than-survey-average cap rate reflects this duality.
Comparable Transactions.
Eight regional resort and housekeeping-cottage transactions identified by the appraiser, 2022–2024. The set establishes a per-rental-unit benchmark of approximately $223,000.
| № | Address | Date | Sale Price | Units | $ / Unit |
|---|---|---|---|---|---|
| 01 | 58 Temagami River Rd, Marten River | Jul 2024 | $950,000 | 6 | $158,333 |
| 02 | 508 Hurdville Rd, McKellar | Apr 2024 | $2,350,000 | 9 | $261,111 |
| 03 | 239 Chapman's Landing Rd, Nipissing | Dec 2023 | $1,599,000 | 6 | $266,500 |
| 04 | 99 Rockview Rd, Nipissing | Jul 2023 | $1,200,000 | 6 | $200,000 |
| 05 | 18 Papa Johns Rd, Temagami | Jul 2023 | $670,000 | 1+ | — |
| 06 | 4357 Eagle Lake Rd, South River | Jun 2023 | $1,750,000 | 6 | $291,666 |
| 07 | 209 Ave Du Lac, West Nipissing | Jun 2023 | $1,550,000 | 7 | $221,428 |
| 08 | 581 Big Moose Rd, Corbeil | Jan 2022 | $2,450,000 | 15 | $161,666 |
| Set average | — | $1,564,875 | 6.6 | $223,000 | |
Source: Morland Real Estate Appraisals Ltd., 2024, Resort Sales Summary Chart. Indices via MLS, MPAC, GeoWarehouse. Set composition includes properties of varied unit count, condition, and frontage; refer to the full appraisal for individual remarks.
VII.1 · Single-Family Cross-Reference (Lake Timiskaming)
The Property's two principal dwellings provide an additional valuation reference against single-family waterfront sales on Lake Timiskaming, summarized below.
| № | Address | Date | Sale Price | Area (sq ft) | Beds |
|---|---|---|---|---|---|
| 09 | 743130 Dawson Point Rd | Mar 2023 | $700,000 | 1,660 | 4 |
| 10 | 1479 Lakeshore Rd S | Aug 2024 | $733,000 | 2,300 | 6 |
| 11 | 723108 Benoit Dr | Oct 2024 | $1,250,000 | 2,300 | 4 |
| 12 | 742381 Dawson Point Rd | Nov 2022 | $570,000 | 1,590 | 4 |
Source: Morland 2024, Single Family Sales Summary Chart. Same lake, similar shoreline. Useful as a floor on the standalone value of the Property's two principal dwellings.
Transaction Structure.
The Property is offered as the sale of 100% of the issued and outstanding shares of an Ontario corporation (the "Company") holding both parcels and operating Sunnydale Cottages. The corporate name is disclosed to qualified purchasers in the late stages of negotiation under a non-disclosure agreement.
VIII.0 · Vendor Rationale
The Property was acquired and modernised by the vendor for an intended long-term family hold. Recent capital and operational investment under current ownership — the renovated kitchens and bathrooms, the commercial-speed internet installation, the orchard plantings, the 4K security infrastructure, and the development of the brand, booking platform, and digital reservation systems described in Section IV.5 — were undertaken with that horizon in view. A family obligation requiring the vendor's return to Italy has changed that timeline. The Property is offered now, mid-operation, because the vendor is unable to remain to operate it. The going-concern handover, the booking systems, and the operational records are accordingly available to a qualified successor on terms that reflect the vendor's need for a timely transaction.
VIII.1 · Form of Transaction
100% share sale of the operating Ontario corporation. The Company holds title to both parcels (743022 and 743024 Dawson Point Road) and operates the cottage business as a going concern. Cottages and chalet are furnished and included; personal contents of the owner's residence are negotiable.
VIII.2 · Tax Position
The share-sale structure may permit the vendor or vendor-shareholders to access the Lifetime Capital Gains Exemption (LCGE) subject to qualification of the Company as a Qualified Small Business Corporation under the Income Tax Act. Purchasers are advised to obtain independent tax and legal counsel as to the implications of the transaction structure for their own circumstances.8
VIII.3 · Diligence Materials
Upon serious inquiry, the following diligence materials are made available to interested purchasers: three years of financial statements; selected operating findings of the Morland 2024 appraisal (NOI, economic life, comparables, highest-and-best-use conclusions); the zoning by-law and exception documentation; mechanical and capital-improvement records; the operating-system handover schedule.
VIII.4 · Indicative Terms
| Asking | $1,975,000 |
| Form | 100% share sale |
| Vendor entity | Ontario corporation Disclosed under NDA at late stage |
| Going concern | Yes |
| Chattels | Furnished cottages & chalet included |
| Possession | Target Jun 2026, flexible |
| Listing | MLS T13023876 |
| Diligence package | Available on serious inquiry |
VIII.5 · Indicative Process Timeline
Initial Inquiry
Contact via the broker of record or directly with the vendor. Initial discussion of fit, timing, and process.
Information Package
Release of the full diligence package — financials, appraisal findings, zoning, capital records.
Site Visit
Private viewing by appointment. Q&A with the owner-operator on the operation.
Letter of Intent
Non-binding LOI setting out price, structure, and outline conditions.
Diligence & Closing
Definitive share-purchase agreement, financial and legal diligence, closing.
- The Company's eligibility for LCGE treatment at closing will depend on satisfaction of the active-business and asset-use tests under sections 110.6 and 248(1) of the Income Tax Act, including continued use of substantially all the Company's assets in an active business. Purchasers are not to rely on representations herein for tax purposes.
Appraisal findings.
Selected operating findings from the 2024 independent appraisal by Morland Real Estate Appraisals Ltd., completed for the Company's commercial lender following substantial completion of the 2021–2024 capital programme.
A.1 · Condition & Economic Life
| Total economic life | 70 years |
| Effective age, overall | 30 years |
| Remaining economic life | 40 years |
| Condition (cottages) | Average to good, maintained |
| Condition (residences) | Good |
| End-of-life proximity | Not near end of life |
A.2 · Highest & Best Use
| As if vacant | Recreational use |
| As improved | Current existing use |
| Zoning conformity | Conforms |
A.3 · Selected Observations
"Market activity has been limited not due to a lack of demand but rather due to a scarcity of similar style improvements."
Morland 2024, Resort Sales Summary
"The two [main] dwellings are superior to nearly all of the above owner's residences."
Morland 2024, Comparable Sales Discussion
"The highest & best use is considered to be the current existing use."
Morland 2024, Highest & Best Use Conclusion
A note from the vendor.
The institutional sections of this document do not, by design, contain the vendor's voice. This appendix does.
To whoever is reading this far —
I bought Sunnydale because I had spent enough years on the 401 to know what the absence of the 401 was worth. I'd lived in Barrie before that, and Toronto before that, and I'd seen the way the city quietly takes hours out of a life and gives almost nothing back. This property was supposed to be the place where my family would stop trading hours for money.
So I treated it that way. The renovated kitchens and master bath, the commercial-speed internet, the 4K security infrastructure, the orchard plantings, the new flooring, the brand work and the booking platform that the previous owner did not have — none of it was done to flip the property. It was done because I assumed I'd be here for twenty years, and I wanted the place to be ready for my children and theirs. Every fruit tree on this land was planted with somebody else's grandchildren in mind. I just thought those grandchildren would be ours.
A family obligation has called me back to Italy. It is not the kind of obligation that can be deferred, and it is not the kind that I am willing to defer. So Sunnydale has to find a different family, and I have to be the person who finds them. That is what this document is.
I do not know who you are. You might be a physician who has been looking for a place to bring patients' families on weekends and your own family on holidays. You might be a Toronto professional who has finally decided that 8,760 hours a year is too many to spend in traffic and on conference calls. You might be from the Italian-Canadian community in the GTA and you might recognise, in the name on the corporate filings, something familiar.
Whoever you are, here is what I can offer you — not as a promise, but as an honest account of what I have seen. The cottages have, in my time here, generated income that has materially offset the cost of operating the Property. The two principal residences are real homes built and finished to a standard that does not depend on the rental operation. The Northlander is scheduled to return in 2026 with a station in Temiskaming Shores. The orchard is young, and most of the trees are two to three years away from full production. The breakwall, the zoning exception, the proximity to the city — these are present-day facts on the ground, and they predate my ownership. What happens to any of these things in the future is, of course, outside anyone's ability to guarantee.
What I am offering is a place that has worked well for my family and for the guests we have hosted. I have priced it carefully and I have made the operating records available to any serious buyer who is prepared to undertake their own due diligence. If you walk the property and the place fits you the way it once fit me, I would be honoured to hand it to you. If it does not fit, I am grateful for your time and I wish you well.
— The Owner
Sunnydale Cottages · Lake Timiskaming
Notices & Disclaimer.
About this Memorandum This Offering Memorandum (the "Memorandum") has been prepared on behalf of the vendor (the "Vendor"), an Ontario corporation, in connection with the proposed sale of all of the issued and outstanding shares of the Vendor. The Memorandum is provided for information purposes to support a prospective purchaser's preliminary evaluation. It is not a contract, prospectus, or offering of securities. The corporate name of the Vendor will be disclosed to qualified purchasers under non-disclosure terms in the late stages of negotiation.
No Representation or Warranty The information set out in this Memorandum has been compiled from sources believed by the Vendor and its representatives to be reliable, including the 2024 independent appraisal by Morland Real Estate Appraisals Ltd. and the operating records of the Vendor. No representation or warranty, express or implied, is made or shall be relied upon as to the accuracy or completeness of the information. Forward-looking statements, including stabilized financial projections, are estimates and not guarantees; actual results will depend on future operator performance, market conditions, and other variables outside the control of the Vendor.
Independent Diligence Each recipient is to satisfy itself as to all matters concerning the Property and the Vendor through its own independent investigation and the advice of its own legal, tax, accounting, environmental, and other professional advisors. Without limitation, recipients are advised to obtain independent tax counsel concerning the structure of the transaction as a share sale, including the application of the Lifetime Capital Gains Exemption to their own circumstances.
No Offer This Memorandum does not constitute an offer to sell or a solicitation of an offer to purchase. Any offer or solicitation shall be made only by a definitive share-purchase agreement to be negotiated between the parties and which, when executed, shall supersede all prior discussions, including this Memorandum.
Brokerage The Vendor is represented by Fair Agent Realty, Brokerage (Steven Loney, Broker of Record). Cooperating brokerages are welcomed in accordance with the listing terms; please refer to MLS T13023876 and OREA Form 320 (Confirmation of Cooperation) for the applicable cooperation arrangements.
Reservations The Vendor reserves the right at any time, without prior notice, to withdraw the Property from the market, to negotiate with one or more prospective purchasers concurrently, to modify or terminate any procedure in connection with the offering, and to reject any offer for any reason.
Lake Timiskaming · Ontario
Fair Agent Realty, Brokerage
705 · 479 · 0145
Site visit coordination
705 · 347 · 8669