Hard Rock Park Public Auction

Our failed Hard Rock Park, having filed for bankruptcy earlier in the year, was supposed to have gone up for public auction today.

According to the city's newspaper, there was not much indication of a buyer present, even though city officials had shown the park to several potential investors. Most said there was not enough time to research the park and its potential income, and asked to delay the final auction.

Bidding started on Friday, and bidders were required to show proof of a 10 percent down payment and a net worth of $10, among other requirements.

One amusement company called PARC Management has recently purchased the Nascar Speedpark and Myrtle Waves waterpark, and has shown interest in purchasing hardrock, possibly finding a financial partner to help absorb the minimum $35 million pricetag. They say the "Hard Rock" branding would be changed to something more family-friendly, tickets would be much more in line with pricing, and they might do package deals with with other area businesses to increase sales. They also say that they do have the financing available to purchase the park, and have "submitted a letter of interest".

The shutting down of Hard Rock put yet another strain on the Myrtle Beach real estate market. Hopefully this can be worked out quickly and will work out to improve our local economy.