From our news services
The Silver Lake Motel & Inn and the former Jolly Roger Pub & Marina will be sold at auction at 10 a.m. July 29, in the law offices of George Oliver, 405 Middle Street, New Bern.
“This is a great property with lots of potential, and we are excited to be a part of helping it move forward,” said Dewey Dunn of Country Boys Auction & Realty Inc. of Washington, N.C., who will conduct the auction.
Parties interested in bidding on the property must be pre-approved by 5 p.m. on July 25. Only pre-approved bidders will be allowed to bid on the property.
Details on this auction, the properties, and the process are available online at www.countryboysauction.com or by contacting Dunn at 252-916-1002.
The motel and inn are in full operation, conducting business as usual with the new interim management in place under direction of the court-appointed receiver George M. Oliver, Dunn said in a press release.
Previous reservations are still in place and honored as well as new reservations that are being made throughout this season.
This is not a foreclosure auction, Dunn said. It is an “auction for the Receiver with Notice to the Court,” which means the receiver oversees the operations, management and sale of this property for the court.
The auction will include five separate parcels of land that will all be sold together as a single property.
This includes the original two-story motel building, the newer four-story Inn & Suites buildings, and support property on the inland side of Irvin Garrish Highway as well as the waterfront property that was the former home of the Jolly Roger Pub & Marina, which is allowed to be rebuilt.
An opening bid in the amount of $2.8 million has been made by a third party and bidding at the live auction will begin at $2.9 million.
Bidding will continue in $100,000.00 increments at the live auction until a last and final bid is made.
A 10% deposit is required by the high bidder at the time of the auction. The remaining 90% will be due at closing within (45) days of the auction date.
