SOURCE: Woltz Auction Company

Woltz Auction Company

May 04, 2009 11:19 ET

Harrogate Subdivision, Powell River Land to Sell at Auction

HARROGATE, TN--(Marketwire - May 4, 2009) - More than 536 acres of Harrogate land -- including estate-size home sites, wooded land and meadows along the Powell River -- will be sold at auction Saturday, May 30, with Woltz & Associates managing the sale.

The property, much of which has views of the Cumberland Mountains -- including the famous Pinnacle Overlook used as a Civil War observation post because of its views of Cumberland Gap -- is located less than 10 miles south of Harrogate and Lincoln Memorial University, home of one of the nation's fastest growing medical schools.

"Approximately 363 acres of this land has been developed into the Pinnacle View Estates subdivision, with 32 home sites ranging from less than three acres to more than 50 acres. These will be offered individually or in any combination. So we could have individuals bidding on one or more tracts as an investment, mini-farm, or home site. Or we could have a builder buying a number of them on which to build homes," said Jim Woltz, president of the auction company. Bidders will also be allowed to bid on the entire 536 acres, he said.

Randy Ervin, the Fort Blackmore, Va.-based farmer who is selling the land, said he decided to auction the land rather than sell it through ordinary listings because of a family illness. "Selling this land at auction gives us an opportunity to sell it all in one day, and that best meets the needs of my business and my family," said Ervin.

The four tracts making up approximately 174 acres could be developed into a subdivision with the right approvals, according to Ervin. Two of those four parcels have frontage on the Powell River, and the other two have frontage on Blair's Creek.

The sale will be conducted at the Lincoln Memorial University campus cafeteria at noon Saturday, May 30. Individuals interested in additional information about the auction may call 800-551-3588 or visit Woltz's web site at www.woltz.com.

Woltz Auction Company specializes in the sale of land, estates and other properties through auctions and broker listings.

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