CLEARWATER — A development proposal that would have established the first onsite craft beer brewery on Clearwater Beach has gone flat.
Bill McKenna, owner of the Mandalay Surf Company at 499 Mandalay Ave., confirmed Monday that a deal to sell the building to the Clearwater Beach Brewing Company fell through after one of the investors pulled out.
“When it came to closing the deal, they didn’t have the money,” he said.
When the deal wasn’t done in April, McKenna agreed to a 30-day extension. But after the investors couldn’t come up with the money last week, he posted a for sale sign on the building. Since then, McKenna said he’s fielded a few inquiries from potential buyers and investors.
McKenna is asking $3.3 million for the building at the southeast corner of Mandalay Avenue and Baymont Street.
Paul O’Renick of Clearwater Beach Brewing Company gained city approval in January to demolish the existing structure to make way for a 3,900-square-foot, two-story building. The total value of the project upon completion was estimated at $2.5 million. He couldn’t be reached to comment on this story.
In spite of the property sale falling through, city planner Mark Parry said the status of the development agreement is not impacted.
“The approval runs with the land,” he explained. “The property owner has one year from the approval date to apply for permits and six months from applying for a permit to obtain a permit. Extensions can be requested, though.”
The 64-year-old building had housed the Mandalay Surf Company, a one-stop shop for boarders established in 1979. The store sold surfboards, skimboards, skateboards and beach apparel.
In March, McKenna and his wife began liquidating their inventory. All that remains “is a few fixtures and furnishings,” he said.
Anyone interested in purchasing the remaining fixtures or the 5,000-square-foot building may call (727) 480-1725 or send an e-mail to MandalayPartnership@gmail.com.