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March 11, 2022

County finalizes purchase of former Fauquier Banks property in Old Town for $6.4M

By James Jarvis
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The Fauquier County Board of Supervisors approved an agreement Thursday to purchase the Charlottesville-based Virginia National Bank property in Old Town Warrenton for $6.4 million.

Formerly the Fauquier Bank, which merged with Virginia National Bank in April 2021, the complex will soon become administrative offices that could help solve the county’s overcrowding issue that has various agencies crammed into the Fauquier Circuit Court and other government buildings.

The Virginia National Bank complex at 10 Courthouse Square went on the market last October for $7.5 million.
The two buildings — totaling 36,000 square feet — and 89 parking spaces cover 1.6 acres with frontage on Alexandria Pike and Diagonal, Waterloo and Winchester streets.

The sale must be finalized within the next 60 days, including a 45-day study period for the county to inspect the structures.

Funding for the purchase of the property will come from unallocated capital reserve funds, according to the board’s resolution.
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