Painted boat resort
- Thread starter sasqman
- Start date
ab1752
Crew Member
I've stayed there a few times when we have had too many people at our place, its a great location and seems to be well managed. Having said that, I heard the majority interest is up for sale? Not sure how it is structured from a fractional / strata perspective, definitely something to consider.
sasqman
Crew Member
Its structured as 1/4 share ownership of one of the units. Each owner gets one week a month. Maintenance fees are around $280 per month for each owner. Just curious as to politics and strata. A bit of a red flag as well when the majority interest could be selling...... but also maybe nothing to worry about. Thanks for the input AB.
ab1752
Crew Member
It would be worth while to have the strata agreement and strata council minutes reviewed by someone who is familiar and trained in conveyancing. Colliers has the listing for the overall property it seems.
It is an awesome property with a nice marina and pool area. As you know it is quite new and I bet they can rent units out easily year round. Its likely no different that the fractional ownership properties in whistler but I have never heard of there also being a majority shareholder so be super careful with that potential for liability risk.
It is an awesome property with a nice marina and pool area. As you know it is quite new and I bet they can rent units out easily year round. Its likely no different that the fractional ownership properties in whistler but I have never heard of there also being a majority shareholder so be super careful with that potential for liability risk.
Corey_lax
Crew Member
I just stayed there this past weekend. Weird that they weren't advertising to us that there was places for sale. Normally a resort would jamb that down your throat
I can't speak to anything about whether ownership at the resort is a good experience but.... The docks was great. The rooms were good but there was a soft floor in the unit we stayed in. I don't know if the subfloor was wet or just a bad job of installing the hardwood floor on top. It reminded me of the Seabeam lodge where the linoleum is holding the entire building together haha. But don't get me wrong, it was much better than the Seabeam.
I can't speak to anything about whether ownership at the resort is a good experience but.... The docks was great. The rooms were good but there was a soft floor in the unit we stayed in. I don't know if the subfloor was wet or just a bad job of installing the hardwood floor on top. It reminded me of the Seabeam lodge where the linoleum is holding the entire building together haha. But don't get me wrong, it was much better than the Seabeam.
sasqman
Crew Member
I've been watching the 1/4 shares sell for about 110 to 140,000 over the last few years. Maintenance fees are about 300 a month per owner. You get one week per month through out the year.
@ab1752 I found the listing for the resort majority interest.
https://www.collierscanada.com/en-c...deira-park-british-columbia-canada/can2003627
@ab1752 I found the listing for the resort majority interest.
https://www.collierscanada.com/en-c...deira-park-british-columbia-canada/can2003627
sasqman
Crew Member
Here is a current listing of a 1/4 share
https://waterfrontlistingservice.co...849-lagoon-road-madeira-park-v0n-2h0.92547554
https://waterfrontlistingservice.co...849-lagoon-road-madeira-park-v0n-2h0.92547554
