A young middle-class couple can thank Northvolt: The Swedish company bought their single-family home for three times what they paid five years ago, an “extraordinary” situation.
According to public documents consulted by our investigative bureau, the family purchased the century-old home near the Richelieu River in 2019 for $429,000.
The electrician and teacher were far from suspecting that the largest private project in Quebec's modern history was about to land in their backyard.
In fact, just months after the Legault government announced the arrival of a battery factory on the south coast, the couple sold to Northvolt for $1.3 million, three times the amount they had invested four and a half years earlier. This is the second major transaction for a single family home in Saint-Basile-le-Grand in 2023.
Laughable price
“If I had listed this house for $1.3 million, I probably would have been laughed at,” says Melanie Bergeron, a real estate broker in the area.
According to him, the young couple won “thanks to Northvolt” and they received this prize because their residence was “in the way” of the mega-factory, and was heavily subsidized by the governments of Quebec and Canada. .
“There are properties that double in value after an epidemic, but triple, it really takes a certain context,” M explains.me Bergeron.
The house, with 6 bedrooms and a double garage, sold for a few thousand dollars more than what Northwold bought in 2023 in Saint-Basil-le-Grand.
Photo by Pascal Ducasse Bourdon
In a sign that Northwold's offer last December was a serious help to the young family, the latter were able to buy their next property for around $850,000… without having to take out a mortgage in the first place.
Very close to factory
The mayor of Saint-Basile-le-Grand notes that he has not heard of any problems with this sale. “As far as I know, it's done over the counter and it's family-friendly,” said Yves Lessard.
For its part, Northwold says it bought the house because of its proximity to the factory. He wants to keep the building intact and plans to offer a function connected to the business.
Courtesy Saint-Basil-le-Grand
“We will keep the house to be a conference space and a residence for staff and outside consultants,” explained spokeswoman Emmanuelle Rouillard-Moreau. It will be modified according to the company's requirements.
As for the price paid, Northwold says he obtained an appraisal from an independent firm “to agree on a sale price with the owners.”
The couple in question declined our interview request. In a written statement, former owner Jeremy Lapointe noted that he had a good relationship with the Swedish company and “wanted to make things better on Northvolt's side.” He also pointed out that despite the sale four months ago, he still lives there.
– In collaboration with Philippe Langlois
“Music geek. Coffee lover. Devoted food scholar. Web buff. Passionate internet guru.”
