Pungo Medical makes $665,000 offer on hospital property

Published 6:44 pm Friday, December 9, 2016

BELHAVEN — Pungo Medical Center has made another offer for the old hospital property in Belhaven.

The nonprofit formed to oversee the reopening of the facility extended a $665,000 offer to Pantego Creek LLC, which owns the hospital property.

This offer follows a $500,000 offer Pungo Medical made last month that was rejected by Pantego Creek “primarily because the property is more valuable than the offered amounts,” according to attorney Arey Grady III.

The current offer is based off of a January appraisal of the 4.04-acre property, completed by Southeastern Appraisal Group in Wilmington, in which the property value is listed as $665,000.

“The building is in extremely poor condition due to both flooding, mold/mildew and general aging processes. It does not appear to this appraiser as if the building can be improved to required standards for future use. The building is a liability as is and should be demolished to allow for a different future use,” the official appraisal reads.

It continues: “The building ‘as is’ is not considered in the appraisal of the land. However, the demolition costs are deducted from the value of the land to produce a final value.”

Pantego Creek’s membership voted in early November to demolish the old hospital building, and asbestos removal began Nov. 14.

Since, a temporary restraining order has been placed on the demolition until a Dec. 21 court hearing. Eight members of Pantego Creek filed claims against the LLC’s four manager, saying they were given misleading information in an effort to sway their votes toward demolition.

“This offer is the exact value that the LLC’s own appraiser put on the property. This offer allows the LLC to get the full value of the asset, and the community can now reopen our hospital,” Belhaven Mayor Adam O’Neal said. “It is a win-win for every person in our area.”

Since Vidant Health closed the former Vidant Pungo Hospital in 2014, Belhaven officials and some residents have fought to reopen the facility. Most recently, a group marched around the governor’s Executive Mansion in Raleigh on Thursday to garner support.

Currently, the hospital property is worth $665,000 with the buildings on it and $1,115,000 as only vacant land, according to appraisal information.

There is no word on whether Pantego Creek plans to accept or reject the newest offer.