Price reduced for quick sale: Port of Port Royal on market for $15M

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BEAUFORT, South Carolina — If you're looking to buy a port at a bargain price, consider the port of Port Royal.

The Beaufort Gazette reports (http://bit.ly/1zUgl93 ) that after four failed attempts to sell, the South Carolina Ports Authority has put the property back on the market.

The agency will sell the 317-acre property in parcels or the entire thing for just under $15 million. Two years ago, the asking price was $22.5 million.

The property was once the site of a small port that began operation in 1958 but has been vacant for a decade.

Offers to buy the property must be submitted by May 26.

Gov. Nikki Haley signed legislation last year requiring the property be auctioned for no less than 80 percent of its appraised value if it remains unsold June 30.


Information from: The Beaufort Gazette, http://www.beaufortgazette.com

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