Historic Event Venue, Gathering Spot or Restaurant
Lynchburg, VA

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Property Location

2627 Old Forest Rd
Lynchburg, VA 24501

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Property Number

FX1889

Property Type

Special Purpose -
Restaurants

Description

    Locust Thicket (c 1790) - A Lynchburg designated Arts, Dining and Special Event Precinct

    Tour the grounds and sample a complimentary lunch at the restaurant; call today to make your appointment.

    Discover a treasure trove of opportunity, a property where history and potential income generation meet! Originally, the seller bought this property out of foreclosure to tear down the ramshackle house and develop townhomes, until they uncovered the historical significance of the Locust Thicket Property and its potential to be so much more than just another townhome development. So, the property was re-zoned and a Site Plan developed in order to convert the run down property into an Arts, Dining and Special Events Precinct.

    The c 1790 home was extensively renovated to accommodate a restaurant tenant. The Stone Hearth and Manor House Kitchen most recently operated here to rave reviews. Gross rents were $72K /year. This unique building stands ready for your restaurant, event venue or gathering spot.

    With its current zoning, approved site plan and close to 4 acres of surrounding property there are many options available for increasing the income of this property- add retail, a farmer's market area, special events center, underground tavern, historical lectures & tours, bakery/coffee shop, spa, brewery, distillery etc? Do your research and decide.

    The Locust Thicket Project was awarded a State Tourism Growth Fund Grant in 2016 which reimbursed 30% of all capital expenses undertaken during Phase One of the Project development and any future expansion construction projects may also be eligible.

    The next planned phase includes:
    • Renovation of existing log cabin to bakery/coffee house
    • Restoration of original well and ice house
    • Construction of 3,000 SF 2 story event building
    • Self-tour signage
    • Privacy fencing, landscaping

    Lynchburg has a modestly growing population and is 100 miles west of Richmond, 200 miles southwest of Washington, DC, 55 miles east of Roanoke and 65 miles from the Virginia-North Carolina state line.

    HISTORY Locust Thicket is a historically significant property. The plantation manor home was built in 1790 by Major Samuel Beverley Scott soon after he was discharged from George Washington's Revolutionary Army. Originally thousands of acres, the property abutted Poplar Forest, Thomas Jefferson's farm and at one time was involved in a boundary dispute with Jefferson. The manor home was at the frontline of the Battle of Lynchburg in the Civil War. Major Scott, his wife and other family members are buried within the cemetery on site. The cemetery is in the process of being restored with the construction of a rock wall enclosure, thanks to assistance from the Sons of the Union Veterans of the Civil War and Daughters of the American Revolution.

    Note: Restaurant furniture, fixtures and equipment convey at settlement via separate Bill of Sale. See list in Property Information Package.


    For a Historical Timeline, Plat, Concept Plan, Restaurant Flyer and Lease, and more information, please be sure to download the Property Information Package by clicking on the words under “Documents to Download.” By downloading this package you will alert Tranzon Fox to your interest in this property and you will receive emails with any updates on this auction. The package contains information needed to participate in bidding at auction.

VAAF423

Terms and Conditions

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Linda Terry at 804-354-9090 or lterry@tranzon.com.  All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the FAQ-Frequently Asked Questions.

Buyers Premium: 10% Buyers Premium based on the high bid.
Closing: 30-Day closing, sold in As-Is condition, no contingencies.
Deposit Amount: 10% deposit due within 2 business days of being notified that you are the successful high bidder.
Broker Co-op: 2% of the high bid will be paid to a properly registered broker at settlement.
Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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