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Date of Issue: August 16, 2007

Interest in property may bring rosy future

Developers are looking at the Rosa del Mar property on Gulf Drive in Bradenton Beach with keen interest, said Barry Gould of Island Vacation Properties, the company marketing the former GSR property for an auction sale for lien holder Horizon Bank.

Since the auction sale was announced, Gould said he’s gotten “quite a few telephone calls” and believes at least four parties will submit bids by the Sept. 7 deadline, including two from Europe.

“I think this shows interest in Island real estate is on the upswing,” said Gould.

“And the buyers get a free and clear title from Horizon Bank,” he added. In other words, bankrupt GSR Development LLC is no longer in the picture.

The property is the largest vacant piece of land available on Anna Maria Island and a site plan for 14 condominium units has already been approved. Gould said he understands that a hotel is allowable under the zoning code for the site.

Horizon has set $9.2 million as the benchmark bid, but could take a lower offer.

All bids will be submitted to the law firm of Barnes Walker at 5914 Marina Drive in Holmes Beach by Friday, Sept. 7.

For more information on Rosa del Mar, call Gould at 941-448-5500, or visit the Web site at www.rosadelmar.info.

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