- Associated Press - Tuesday, December 16, 2014

FAYETTEVILLE, N.C. (AP) - The Prince Charles Hotel in downtown Fayetteville has sold at auction for the minimum bid of $200,000.

The sales prices is a little more than a tenth of what the property brought seven years ago and half of what the hotel was appraised for five years ago.

Area media outlets report that the only bid was submitted was by a buyer known as “pchholdings.” A spokeswoman for the auction company based in Tulsa, Oklahoma, said she could not comment about the buyers because it is considered confidential information.

The current owner bought the hotel for $1.9 million back in 2007.

That purchase included 2.5 acres with a parking lot and a green space. The hotel and less than an acre of land was auctioned Monday.


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