Public Surplus: Auction #689863

Auction #689863 - Store #005

Final Price	$126,100.00
Time Left	Closed Auction Extended
High Bidder	kifle69
# of Bids	100
First Offer	$1,000.00
Auction Started	Mar 7, 2012 10:16:40 PM MST
Auction Ended	Apr 20, 2012 5:09:13 PM MDT

Seller	State of Washington Liquor Control Board [View seller's auctions]
Terms and Cond.	[View Terms and Conditions]
Pick-up Location	LCB Store #005 [Map It] 1827 15th Ave W #A22 Seattle, WA 98119
Auction Contact	Please login to view contact
Payment	Cashiers Check, Cash, ACH/EFT
Shipping	Buyer must pickup item(s)

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Bid History

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Description

To be qualified to bid on this auction, please register on this website and then contact DES Surplus Operations at (360) 753-3508 ext. 1 with the following:

Your User Name, Personal or Business Name, Phone Number, Address and e-mail
Bid Deposit payment of $1,000 to bid on any of the individual auctions OR $5,000 to bid on the "All Liquor Stores" auction (forms of payment accepted: Visa, MasterCard, Cashier's Check, Money Order, or Cash).

You may call with the above information Tuesday - Friday 9:00 a.m. to 4:00 p.m. and Saturday 9:00 a.m. to 3:00 p.m.

Alternatively you may mail your information and payment to:

DES Surplus Operations

P.O. Box 41030

Olympia, WA 98504

Once we verify your information and collect your Bid Deposit, we will release you to bid.

Bidders Options and Related Bid Valuation

To ensure maximum reasonable value for this auction process, the potential expenses to the state of removing store fixtures and disposing of inventory will be considered. The bidder is responsible for paying their bid amount, plus 6% buyer's premium, and any fixture or inventory removal costs that may apply. To see the anticipated expense to the state for removing store fixtures and disposing of inventory at this store, please refer to the Cost Avoidance Workbook.

Located in Interbay Center on 15th Ave West. Convenient to the excellent in- city neighborhoods of Ballard, Magnolia and Queen Anne. Huge lobby area.

Quick Stats

Store #	:	005
Store Established	:	2010
Approx. Cost Base of Current Inventory	:	$187,846
Fiscal Year 2011 Gross Sales	:	$3,091,577
Approx. Square Footage	:	5,422
Typical Staffing Level	:	4-8 Employees
Typical Hours of Operation	:	Mon - Thu 10:00 a.m. to 9:00 p.m. Fri - Sat 10:00 a.m. to 10:00 p.m. Sunday - Closed

What Does the Winner Receive?
The winning bidder shall be granted;

the exclusive right to apply for a spirit retail license at the location of the existing state liquor store in its current footprint.
the ability to sell spirits, if licensed to do so, at a retail location less than 10,000 ft². (Note: this is otherwise not allowed by law except for specific and limited exceptions)
the right to sell spirits, if licensed to do so, at this location which is not subject to challenge by local jurisdictional authorities.
the remaining store fixtures such as shelving and gondolas

What Are the Winners Options?
The winning bidder shall have the following options;

In the event the winning bidder is unable to reach agreement with the landlord, they may request the relocation of the right to another address within one (1) radius mile of the state store location. The new location would be subject to jurisdictional comment.
Purchase all remaining inventory in the store as of the close of business on May 31, 2012 at a special discounted price of cost less $7.97 per case. Bidder would be required to obtain a spirit retail license in order to purchase the inventory.
Engage the landlord and pursue a lease for occupancy of the location associated with the right.
Sell or transfer the right to another individual.
Do nothing.

PLEASE NOTE: A 6% BUYERS PREMIUM WILL BE CHARGED TO THE WINNING BIDDER ON THIS AUCTION

What Additional Information is Available?
There are additional data sheets and resources available to bidders

F.A.Q's: A list of the most common questions and answers related to this auction process.
Data Book: Compilation workbook for all stores reporting on annual sales, income statements, inventory levels, square footage, landlord contact information, and more.
Licensing Information: Learn critical information necessary to apply and qualify for a spirit retail license.
Auction Terms & Conditions: Read the full details of all auction terms and conditions which apply to this transaction and the associated rights, remedies, and options to those parties involved.
Full Text of I-1183: Interested parties who would like to read more about the provisions of I-1183 may access the full text.

What if I have More Questions?

To assist the bidder with specific questions, and/or issues, we provided a FAQs attachment. If you have additional questions or concerns, please utilize the question feature within Public Surplus.

IMPORTANT BACKGROUND INFORMATION

In accordance with I-1183, Section 102 (4)(c), the Washington State Liquor Control Board is selling "by auction open to the public the right at each state-owned store location of a spirits retail licensee to operate a liquor store upon the premises. Such right must be freely alienable and subject to all state and local zoning and land use requirements applicable to the property. Acquisition of the operating rights must be a precondition to, but does not establish eligibility for, a spirits retail license at the location of a state store and does not confer any privilege conferred by a spirits retail license. Holding the rights does not require the holder of the right to operate a liquor-licensed business or apply for a liquor license."

Interested parties who would like to read more about the provisions of I-1183 may access the Full Text of I-1183.

Condition: SEE DESCRIPTION

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