On Friday, the estate of the late Charles Faircloth will be sold at auction at the Bay Point Marriott in Panama City Beach. Roebuck Auctions is holding the auction of more than 150 properties including anything from an 8+ acre beach-front tract to single family homes and one-off condos in occupied buildings/resorts.
It is estimated that the value of his estate is around $250 million.
Click the “more” link for info on the big tracts, details of when the auction is and who to contact if interested.
The featured properties are:
- The Legacy Property – located on Thomas Drive next to Watercrest Condominiums on the east end of Panama City Beach. This property has sat vacant for as long as I can remember, and if I’m not mistaken, the original Development Order was delayed because this property started the debate on density allowed for condominiums. I think before this, they allowed more density because they were considered hotels. (If I am way off on this, please feel free to correct me – I’m going off memory) Legacy is approximately 8 acres with over 850 of beach frontage and a Development Order that is valid through June of 2008. 30 stories, 688 condos.
- The Breakers/Harpoon Harry’s – 1.8 acres with over 200 feet of beach frontage. There is a Development Order for a 22 story 154 condo project.
- The Sands – 2.2 acres with 300 feet of beach frontage on the west end of Panama City Beach.
- Surfside Villas – just over 1 acre with 233 feet of beach frontage. This is one of the properties that Panama City Beach has cited as a public nuisance and ordered to be demolished by the bank that holds the deed.
The auction will be held at the conference center at the Bay Point Marriott in Panama City Beach at noon on Friday, March 14, 2008.
For more information, contact Thania at Roebuck Auction’s Destin office at 866-723-1419 or you can email her at thania at roebuckauctions.com.
For more information, including a video of some of the properties, click here.
For a listing of all the properties, go the main page of Roebuck’s site and look for the property pictures that have “Faircloth Estate” in red below.Print Story