Former Tuttle lumber site sold to mortgage-holder
BENNINGTON — Property that encompasses the former Henry M. Tuttle Co. lumber and hardware site was sold at auction to the mortgage holder, Apollo Industries Inc., for $400,000 on Friday.
Joseph O'Dea placed the winning bid on behalf of Apollo Industries. The bid represents the amount remaining on the mortgage. The only other bidder at the auction, Jon Goodrich, placed a bid of $250,000.
Eric Nathan, from Nathan Auction & Real Estate of Manchester, conducted the auction at the site of the property, between 113 Depot St. and 174-84 North St.
"It will be sold right here and right now," Nathan said.
O'Dea said there are currently no plans for the property. The owner of record had been Applejack Real Estate Partners LLC.
Terms of the auction included a required $10,000 deposit from the highest bidder to be increased to 10 percent of the sale price within five days after the sale, and to sign a purchase and sale agreement without contingencies at the time of the sale, the Banner previously reported.
The town also auctioned off two properties in a tax sale auction Wednesday — one at 1246 Burgess Road, the other at 235 Beech St., according to Town Manager Stuart Hurd.
Both had single bidders who offered the minimum bid.
Greater Heights Tree and Land Management Inc., of Pownal, placed the winning bid of $17,078.34 for the site on Burgess Road. Monumental Estates LLC placed the winning bid of $20,225.61 for the site on Beech Street, Hurd said.
The site at 1246 Burgess Road had been listed as owned by Burgess Brothers Inc.
Burgess Brothers was considered one of the oldest companies in Vermont, dating to 1792, when the business was sold in 2011 to a Rutland firm, Earth Waste Systems.
The auction notice states that back taxes are owed to the town dating from the 2016-17 fiscal year. Hurd said he believes Greater Heights would like to move their business to the new property.
The site at 235 Beech St. is a single-family home, Hurd said. Efforts to reach Monumental Estates LLC were unsuccessful Friday.
Another business property, the site of the former Captan Color Inc. at 254 Benmont Ave., was auctioned, but no bids were offered, Hurd said. The site has taxes owed dating to 2010-11.
The town also held auctions for two mobile homes on Wednesday, but no one bid. They didn't anticipate having any bidders, as the homes are older and in mobile home parks, so no land would be included in the purchase.
"We thought we'd try," Hurd said.
Patricia LeBoeuf can be reached at firstname.lastname@example.org, at @BAN_pleboeuf on Twitter and 802-447-7567, ext. 118.
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