The Town of Pageland is buying the former Pageland Hardware building and related property for $95,600.
The town outbid two others persons for the property during an auction at the Chesterfield County Courthouse on Thursday.
Town Administrator Cecil Kimrey said the town plans to use the space for a farmers’ market.
Kimrey said a more detailed plan will be developed now that the town owns the property.
Pageland Hardware was one of the oldest operating businesses in downtown, opening in 1911. It underwent several ownerships and closed in 2018.
The property is two stores, each about 30 feet wide and 150 deep. There is also an odd-sized, .3-acre lot behind the storefronts where a lawnmower and chainsaw business operated.
The foreclosure sale was to satisfy the outstanding loan on the property held by First Citizens Bank and Trust.
The bank had earlier agreed to a deficiency judgment, meaning it would accept a bid less than what was owed.
The Town of Pageland of was leading bidder in the first round of the foreclosure sale, offering $77,000 for the property.
Rules of deficiency judgment allow for a second round of bidding 30 days at the first bid.
The town and two other persons bid at Thursday’s second round.
The bid quickly rose to $84,000. After than the bidders inched the price higher, usually in $100 increments.
The town’s bid of $95,600 is slightly less than what the property sold for in 2015. The sale price then was $97,000.
Kimrey said Thursday the town has sufficient funds in reserves to pay for the building. Financing the purchase is another option, he said.
The town is also asking the South Carolina Municipal League if a $25,000 grant can be used to help buy the building.
The town and the Pageland Chamber of Commerce sought the grant to in late 2020,
At that time, the plan was convert another vacant building on North Pearl Street into a “boutique” market called the “Pageland Open Air Market.”
The market would have space for vendors to sell locally grown crops, fresh flowers, specialty crafts, and seasonal items.
The market could also serve as the site for various celebrations.
The chamber is no longer a partner in the farmers’ market project.
Mack Nicholson, owner of Melon Beach across Pearl Street and the farmers market on U.S. 601 north of town, said he supported the project if.
Having the town invest in downtown is good, especially if the result is more people shopping downtown,” he said.