Tentative Agreement Reached to Purchase Natural Bridge - FOX 21/27 WFXR Roanoke/WWCW Lynchburg News, Weather

Tentative Agreement Reached to Purchase Natural Bridge

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Woltz & Associates, the Roanoke-based brokerage firm overseeing the sale of Natural Bridge, announced Friday that a tentative agreement has been reached with a non-profit conservation organization to purchase the historic landmark.

Broker Jim Woltz says if the agreement is finalized by all parties within the coming days, the auction scheduled for Dec. 18 will be called off.

"We've worked diligently along two paths to sell the 1,600 acres along with the Natural Bridge Hotel, the caverns at Natural Bridge, and the historic bridge itself," Woltz said in a news release. "One path has been to sell the property in 35 separate parcels at auction on Dec. 18.  At the same time, we've sought an opportunity to eventually bring the famous rock arch, caverns, and over 1,000 acres into either the National Park or Virginia State Park system."

The name of the potential new owner won't be released until an agreement is signed.

Woltz says according to the terms of the tentative agreement, the Bridge and surrounding property will transfer to the group in an "innovative public-private partnership." The new owner would then be responsible for the property's finances, operations, and technical support for a defined period of time.