Tides Claim Nova Scotia Campground
A picturesque campground on the Bay of Fundy near Truro, Nova Scotia, is to be sold at auction after being placed in bankruptcy earlier this year.
The Sand Point Beach Campground is being sold later this month by the Federal Business Development Bank (FBDB) of Canada, which now holds the mortgage, according to the Truro Daily News.
“It used to be a really nice campground,” said neighbor Bobbie Lattie. “It had one of the nicest views (of the Minas Basin).”
The property was mortgaged for $200,000 through the FBDB in 2004. The previous owners defaulted on the loan in May with $186,727 still owing, according to figures published by the news website allNovaScotia.com.
Affected by some of the highest tides in the world, the campground is losing an average of 15 to 20 feet of shoreline per year to erosion.
Tim Gallant, co-owner of the Five Islands Ocean Resort campground, said 15 feet of frontage was lost last year and he estimates it will take $100,000 to $150,000 to properly restore the site for long-term viability.
But, if purchased at the right price of about $50,000, Gallant believes the campground could still make a sound investment for someone wanting to get into the business.
“There’s a whole lot of work to be done,” he said, adding: “They could make a go of it, yeah.”
Although little is left on the site now, it used to offer 68 overnight sites, 30 seasonal lots and an outdoor pool.
Based on local speculation, however, Gallant suspects the site will be divided up into individual lots after it has been sold at auction.
For Lattie, who lives on the same road as the campground, that scenario would be a shame because she believes it has more widespread appeal in its present form.
“It has a major impact,” especially for the seasonal campers who would return each year, she said. “It was just a great campground and I made a lot of friends there.”