Despite published reports to the contrary, Branson’s largest theatre is still apparently for sale.
A local newspaper last week reported The Grand Palace was recently taken off the real estate market by the Federal Deposit Insurance Corporation due to pending legal matters.
HometownDailyNews.com has learned that’s not entirely true. A local realtor with knowledge of the listing, said the theatre is still on the market at the current price.
According to the Tri Lakes Board of Realtors Multi-List System, the Grand Palace is listed by the Keller Williams real estate company at just over 5-point-3 million dollars, down from the original asking price of nearly 6-point-5 million last August. Tennessee based Kingdom Wealth Builders bid 5-point-4 million for the theatre last year during an auction on the courthouse step, but couldn’t come up with the cash to close the sale.
The FDIC acquired The Grand Palace through foreclosure, acting as receiver for the failed Columbia Bank and Trust.
Local realtors have said several interested buyers have looked at the property on Highway 76 in recent months. The listing includes over 13 acres of land.
A spokesman for the FDIC says it is temporarily reducing its marketing efforts until some legal issues are resolved with the property, and that could take 30 to 45 days. The spokesman said in the meantime, the FDIC will continue to entertain offers on The Grand Palace.