Another huge local equestrian estate is galloping up to the auction block.
Wayne Campbell, longtime owner of Richmond Respiratory & Medical Supply, is selling his 400-plus-acre Chesterfield farm at 12830 River Road.
Campbell said he decided to sell the farm after his medical supply company’s revenue was hit by changes from the Affordable Care Act and new Medicare regulations.
“I don’t like letting (the farm) go for the reasons we’re letting it go, but it’s probably time for a change,” Campbell, 67, said.
Campbell Springs Farm has been broken into six tracts that can be purchased individually or together. Motleys Asset Disposition Group is handling the auction.
Motleys started accepting bids on Tuesday, and bids can be placed in person on Sept. 9 at the farm.
Tract 1 includes 11.7 acres, two barns, a carriage house, a riding ring and other horse facilities.
Tract 2 has Campbell’s 6,000-square-foot house, an indoor and outdoor pool and 96.5 acres. Tract 3 includes 20 acres, a 31,250-square-foot indoor riding arena, two barns and an outdoor stadium ring, among other facilities.
Tract 4 is 124 acres and could be used as a site for a private estate. Tract 5 contains about 130 acres of timber. Tract 6 is another potential home site on 2.61 acres.
Campbell said his company has suffered since Medicare patients started having to use certain companies for some medical supplies instead of choosing the company themselves.
He said he’s had to lay off three employees, cut salaries and go without a paycheck himself for six months to keep the business afloat. Campbell has owned Richmond Respiratory & Medical Supply since 1991. The business is located at 1108D Courthouse Road.
Campbell bought the farm property in 1993 and transformed it into an equestrian estate where people can board and ride horses. He also raises redbone coonhounds and Angus cattle.
Campbell Springs Farm can board as many as 74 horses and boarding rates range from $225 to $500 a month per horse. He’s currently boarding about 20 horses. The dogs and cattle will go with Campbell to a new farm he plans to build on a smaller property.
Campbell said the farm is assessed at $2.74 million and has a bank appraisal of more than $3 million. He decided to put the farm up for auction instead of listing it for traditional sale to speed up the process.
“I needed to move now and not six months from now,” he said.
Chip Jones, who is handling the auction for Motleys, said the property would be great for a buyer looking for a private estate, someone who loves horses, a businessperson who may see a way to generate revenue with the property, or even someone who wants to open a rodeo.
“This is almost like a mini state fairground because of the size of it and the versatility,” Jones said. “You literally could have a small county fair over there.”
Campbell is also auctioning off a large assortment of farm and equestrian equipment, furniture, guns and collectibles. More information, including dates and times, for those auctions can be found at motleys.com.
This is at least the second local equestrian estate put to auction this summer. Auction firm Tranzon is currently working out a deal for a 41-acre Mechanicsville farm it put on the block last month.