An equestrian River Road estate found a buyer at an auction last week. Photos courtesy of Motleys.
An unidentified local business owner has agreed to purchase a 400-plus-acre Chesterfield equestrian estate put to auction last week.
Chip Jones, who handled the auction for Motleys Asset Disposition Group, said the bidder signed a contract to buy the entire estate, which was also offered in six separate tracts. The property is located at 12830 River Road.
Jones declined to identify the winning bidder or say how much he agreed to pay because the sale is still pending.
Jones said Motleys received bids on each tract as well, but the man’s bid on the entire lot was the “highest and best offer.”
Property owner Wayne Campbell signed off on the sale that is tentatively scheduled to close Oct. 13, Jones said.
“I think everybody was satisfied,” Jones said.
He said he’s not sure what the buyer plans to do with the property.
Campbell, longtime owner of Richmond Respiratory & Medical Supply, 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.
Campbell, 67, previously said the farm is assessed at $2.74 million and has a bank appraisal of more than $3 million. He chose an auction instead of listing it for traditional sale to speed up the process.
The sale also included a separate auction of a large assortment of farm and equestrian equipment, furniture, guns and collectibles. Jones said those auctions also were successful.
An equestrian River Road estate found a buyer at an auction last week. Photos courtesy of Motleys.
An unidentified local business owner has agreed to purchase a 400-plus-acre Chesterfield equestrian estate put to auction last week.
Chip Jones, who handled the auction for Motleys Asset Disposition Group, said the bidder signed a contract to buy the entire estate, which was also offered in six separate tracts. The property is located at 12830 River Road.
Jones declined to identify the winning bidder or say how much he agreed to pay because the sale is still pending.
Jones said Motleys received bids on each tract as well, but the man’s bid on the entire lot was the “highest and best offer.”
Property owner Wayne Campbell signed off on the sale that is tentatively scheduled to close Oct. 13, Jones said.
“I think everybody was satisfied,” Jones said.
He said he’s not sure what the buyer plans to do with the property.
Campbell, longtime owner of Richmond Respiratory & Medical Supply, 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.
Campbell, 67, previously said the farm is assessed at $2.74 million and has a bank appraisal of more than $3 million. He chose an auction instead of listing it for traditional sale to speed up the process.
The sale also included a separate auction of a large assortment of farm and equestrian equipment, furniture, guns and collectibles. Jones said those auctions also were successful.