KERRVILLE, Texas, July 29, 2016 /PRNewswire/ -- Two adjacent tracts of land on the Guadalupe River – one being used to mine gravel and the other consisting of hay fields with elevated building sites overlooking the river – are being sold in a bankruptcy court-ordered auction, with McLemore Auction Company marketing the land and conducting the auction.
The land is located between the Kerrville Airport and the river and is being sold in tracts of 111.9 acres and 60.76 acres.
"The smaller tract has beautiful rolling hillsides and would make a great private estate where someone could build one or more homes overlooking the river, and graze some cattle or horses on the land. I wouldn't be surprised if a single buyer purchases both tracts and mines the 111 acres while being able to escape to a luxurious private estate with no commute. Another likely scenario is that someone from elsewhere in Texas buys one or both of these and flies into the airport to enjoy the waterfront or take care of business," said Will McLemore, president of the auction company.
"The Guadalupe River is a very popular destination in the Hill Country, where swimming, kayaking and tubing are favorite activities," said McLemore.
McLemore said prospects for building materials businesses have improved since the crash of 2008. "Demand for new construction is up, and that means demand for sand, gravel and other materials is up, making this a very interesting opportunity," said McLemore.
The auction will continue through Thursday, August 18, at www.mclemoreauction.com. Individuals may access detailed information and maps at the website or call 615-517-7675.
Auction personnel will be available at the property to accommodate inspections on August 11-13, from 9 a.m. until 2 p.m. each day.
McLemore Auction Company, headquartered in Nashville, markets real estate, personal property and other assets, primarily using online auctions.
For more information:
Carl Carter, 205-823-3273
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/court-ordered-bankruptcy-auction-of-riverfront-land-includes-rolling-grassland-gravel-mine-300306239.html
SOURCE McLemore Auction Company