Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Regions Eastern Virginia Auction bidders bring the bacon

Auction bidders bring the bacon

Historic Gwaltney home in Smithfield sells for $478,500

Published July 29, 2016 by Paula C. Squires

Buying a historic home isn’t for everyone. Yet when a stunning example of Queen Anne Victorian architecture comes up for sale at an auction, it draws interest. Throw in the name of P. D. Gwaltney Jr., and it’s no wonder bidders lined up on a rainy day in June to have a shot at owning the Smithfield home. 

Gwaltney, who built the 5,782-square-foot house as a wedding gift for his bride in 1901, developed Gwaltney Foods into a successful pork-producing company that was purchased by Smithfield Foods in 1981. 

The home, for sale on and off for more than a decade, had been listed at a price as high as $2.5 million and as low as $699,000.  It sold at auction for $435,000.  Added to that was a 10 percent buyer’s premium, bumping the total cost to $478,500, says Linda Terry, the broker for the sale. Terry works out of the Richmond office of Tranzon, a real estate company active in the historic home sales market. “We sell lots of old houses in Richmond, but what made this unique was that it was preserved and authentic to just about perfection.”

From the framed wedding invitation of the Gwaltney wedding to a tall turret, gabled roof, stained glass, and ornate brass fittings, the property had all the touches of a period home listed on the National Register of Historic Places.  “Whoever owns it has to be committed to preserving it as a national landmark,” says Terry. “That takes some additional effort. “Historic Gwaltney home in Smithfield sells for $478,500

The buyers are a married couple in their 40s. They were drawn to the home because of its soaring ceilings — the husband is six feet, nine inches tall — and its “amazing wow factor.” 

While the couple — who wished to remain anonymous since the sale has not yet closed — is a bit concerned about the maintenance, they are looking forward to living in Smithfield and updating the kitchen.  Overall, they think they got a good deal — a home with a history,  currently assessed at $884,000.

See photo gallery below. Photos courtesy Tranzon Premier Properties.

Related Stories

Virginia Business logo

Pacorini Global Services (USA) leases 150,000 square feet of industrial space in Suffolk

Wheeler Real Estate Investment Trust acquires three North Carolina properties for $15.3 million

Virginia Business logo

Interchange Group is building new $5 million industrial facility in Portsmouth

Trending

$100M donor gift to launch U.Va. biotech institute

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Amazon Web Services to invest $35B in Va. data center campuses

Report: Capital One cuts 1,100 jobs

Rivers Casino Portsmouth opens to big crowds

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

$100M donor gift to launch U.Va. biotech institute

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Amazon Web Services to invest $35B in Va. data center campuses

Report: Capital One cuts 1,100 jobs

Rivers Casino Portsmouth opens to big crowds

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk