Bikinis "breastaurant" founder Doug Guller is putting his Texas town on the market after only four-and-a-half years of ownership. Guller, the founder and CEO of ATX Brands, confirms with CultureMap that Bankersmith, Texas is for sale.
"The Fredericksburg real estate market is in high demand," says Guller. "The town has a lot of potential and I'd like to see it realized."
Guller purchased the former ghost town — located 10 miles from Fredericksburg and six miles from Luckenbach — in 2012. He rebranded the property Bikinis, Texas, named after his popular chain, with the intention of making it a major Hill Country destination.
In 2015, however, Bikinis was wiped off the map; the concept was met with much opposition, and Guller decided to make nice with his neighbors. The destination was renamed Bankersmith, Texas, its original identity, and got a family-friendly revamp.
Bankersmith was renovated and restocked with amenities. The main attraction is the music venue, Bankersmith Hall, and the town also has an event space for weddings, a corporate retreat center, three bars, and an outdoor stage. Initially open to the public, Bankersmith eventually was billed as a quaint Hill Country venue for private events.
According to a listing with commercial firm SkylesBayne, the price for the 1.56-acre property is $1.5 million. That includes the venues, existing furniture, and a vintage bus that was slated to become a fourth bar. The town's website and trademark will also transfer to the new owner.
Guller and ATX Brands just wrapped a busy year, including the reopening of the Scoot Inn. "2017 will be a very exciting year," he says.