Daufuskie Island Resort to Be Auctioned at Court-Ordered Event

SOURCE: J. P. King Auction Company

HILTON HEAD, SC–(Marketwire – October 6, 2010) –  On October 21, Daufuskie Island Resort, which encompasses 1,018 acres of vacationland on Daufuskie Island, will sell at a court-ordered real estate auction in Hilton Head, S.C. J. P. King Auction Company, the nation’s leading real estate auction marketing firm, will conduct the event.

Among its improvements, Daufuskie Island Resort includes two golf courses, a beach club, a 52-key ocean-view inn and conference center, cottage homes, commercial space and 356 development units. The property will sell in its entirety through J. P. King’s asset division at a bid price at or above $16.5 million.

“This isn’t an opportunity that comes around often,” said Craig King, president and CEO of J. P. King Auction Company. “Daufuskie Island Resort comes with existing entitlements and permits, which makes it an opportunity for investors to take over a popular resort for a great value.”

Daufuskie Island Resort is located one nautical mile from Hilton Head and 12 nautical miles from Savannah.

Melrose Plantation is the property’s primary resort, which includes a Jack Nicklaus Signature oceanfront golf course and an oceanfront resort and conference center. A beach club, tennis center, equestrian center, cottage homes and an administrative facility are also located on the property.

Other improvements include the golf course, spa facility and development units of Bloody Point and the boat dock and developments rights of Melrose Landing, which include the permits and entitlements for 30 units.

A J. P. King representative will be available for tours by appointment through October 20.

The auction will take place on Thursday, October 21 at 11 a.m. at the Hilton Head Marriott Resort and Spa in Ballroom D, located at 1 Hotel Circle. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company’s website at www.jpking.com.

J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Washington, Alaska, Tennessee, Oregon, Wisconsin, Alabama and Wyoming.

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