Coles Point Plantation is set for sale
12-19-2011, 05:03 AM
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Coles Point Plantation is set for sale
I wonder if this is a good thing or not. Sad to read about the economy taking another victim, especially with a marina. Then again, the place was falling apart. It used to be one of our favorite overnight spots, and it held the Coles Point poker run for many years. Hopefully the new owners can and will bring it back to life.
PS, the article is a few weeks old
BY BILL FREEHLING
Date published: 12/9/2011
The Coles Point Plantation on the Potomac River in Westmoreland County is set to be sold next week to a Maryland-based real estate investment group.
The group submitted the winning bid of $2.782 million at a Nov. 17 foreclosure auction and is expected to close on the property within a week, said Jeff Stein, who handled the auction for Tranzon Fox.
Stein didn't reveal the identity of the buyer. He said the auction, which was held at the onsite AC's sports bar and restaurant, attracted about 60 people. There were numerous bidders, both local and out-of-area.
The Coles Point property includes a 182-slip marina, beach, boatyard, restaurant, campground, cabins, recreation hall, fishing area, store, swimming pool and 340 acres of undeveloped land.
Katharine Sobotka is the current owner. She and her late husband, Stephen, had ambitious plans for the property--which they bought in 1995 for $1.2 million--before the recession derailed them. The community occupies a tip of land between the Potomac and Lower Machodoc Creek.
A 2006 dredging project expanded the size of the marina, which has approval for more than double its current number of slips. The Sobotkas planned to rezone the undeveloped land and sell it to Northern Virginia firm Equity Homes, which would develop high-end homes there.
Westmoreland planners saw conceptual pictures of the plans, but nothing was ever filed beyond the materials needed to expand the marina. No additional slips were built, though there is room to do so because of the dredging project.
Locals say the governor's office will be meeting with county officials and the purchaser to discuss the property's possibilities. A sewer system extends there, and the county has designated it as a high-growth area.Bill Freehling: 540/374-5405
Email: [email protected]
http://www.fredericksburg.com/News/F...2092011/669844
PS, the article is a few weeks old
BY BILL FREEHLING
Date published: 12/9/2011
The Coles Point Plantation on the Potomac River in Westmoreland County is set to be sold next week to a Maryland-based real estate investment group.
The group submitted the winning bid of $2.782 million at a Nov. 17 foreclosure auction and is expected to close on the property within a week, said Jeff Stein, who handled the auction for Tranzon Fox.
Stein didn't reveal the identity of the buyer. He said the auction, which was held at the onsite AC's sports bar and restaurant, attracted about 60 people. There were numerous bidders, both local and out-of-area.
The Coles Point property includes a 182-slip marina, beach, boatyard, restaurant, campground, cabins, recreation hall, fishing area, store, swimming pool and 340 acres of undeveloped land.
Katharine Sobotka is the current owner. She and her late husband, Stephen, had ambitious plans for the property--which they bought in 1995 for $1.2 million--before the recession derailed them. The community occupies a tip of land between the Potomac and Lower Machodoc Creek.
A 2006 dredging project expanded the size of the marina, which has approval for more than double its current number of slips. The Sobotkas planned to rezone the undeveloped land and sell it to Northern Virginia firm Equity Homes, which would develop high-end homes there.
Westmoreland planners saw conceptual pictures of the plans, but nothing was ever filed beyond the materials needed to expand the marina. No additional slips were built, though there is room to do so because of the dredging project.
Locals say the governor's office will be meeting with county officials and the purchaser to discuss the property's possibilities. A sewer system extends there, and the county has designated it as a high-growth area.Bill Freehling: 540/374-5405
Email: [email protected]
http://www.fredericksburg.com/News/F...2092011/669844
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12-27-2011, 06:54 AM
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Has anyone heard how he is doing? Last I heard he was dignosed with cancer.
