Burroughs Company to sell historic riverfront properties - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Burroughs Company to sell historic riverfront properties

CONWAY, SC (WMBF) - The president of the Burroughs Company announced plans to sell the riverfront properties.

The Burroughs Company owns a great deal of the historic waterfront, including the beloved Peanut Warehouse, but that will soon change. 

"The Burroughs Company is not in good financial shape, not good at all," President Egerton Burroughs said.

Burroughs said the company has been selling properties, and before they sell their popular riverfront property, they want to make sure city leaders are pleased.

"We would like to know from the city what they would like to go there, and we will sell it or try to help find a buyer that fits the vision of the city," Burroughs said.

During Monday night's city council meeting, Burroughs presented the plans they have so far to city leaders. "It shows a hotel, it shows several retail, it shows a small convention center, different things," Burroughs said.

The Peanut Warehouse would become the area's convention center, and city leaders were happy to see the plans honored the historic venue.

"Well I know it's an important part of our history, we love that Peanut Warehouse, to hear that they've integrated that into their master plan is really exciting," Mayor Alys Lawson explained.

Lawson says the decision to back the Burroughs Company's plans, and help any way they can, was unanimous. Even though the assessment of the century-old properties revealed the Burroughs Company would not be able to take on the project on their own, Egerton Burroughs believes selling the properties will be the best option in the long run.

"It would be a multitude of owners, because we're not able to do it, and the more people that own property and work in a place, the better it will be for probably everyone," Burroughs explained.

From here the city will continue to look over the proposed plans as the Burroughs Company begins the search for buyers with the historic properties full potential at heart.

Copyright 2015 WMBF News. All rights reserved. 

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