An iconic midcoast lobster restaurant is now for sale after suffering heavy damage in the coastal storms that hit Maine in January.
The Lobster Pound, a nearly century-old establishment on Lincolnville Beach, went on the market for $1.5 million on March 25.
“The building is in need of extensive renovation to bring it back to its prior glory and open back up as a restaurant,” according to the listing. “The site can be used for various other purposes with code officer approval. Bring your ideas to one of the best locations in the area.”
The company that owns the Route 1 restaurant had originally said it would try to repair the extensive damage from the January storms and reopen by spring.
“Sea surge came in and over the seawall and just battered our building, smashed down our wall,” Brett Lafayette told WABI at the time. “We had yards of sea surge and gravel that just washed in all the way through the building. Equipment has been pretty much ruined.”
He added, ”We hope to keep the Lincolnville Lobster Pound alive and well, so that’s our intention.”
The Lafayettes, who run a chain of hotels and restaurants across Maine and New Hampshire, did not respond to a request for comment. They bought the Lobster Pound after its previous owners filed for bankruptcy in 2016. At the time, they said the decision was mostly “sentimental.”
While the restaurant was heavily damaged in January, Bennett Bricker, the broker for the property at Camden Real Estate, said the reason for the sale is likely so the Lafayettes can focus more on their hotel business.
Bricker said he’s received a few calls about the property since it went on the market, but nothing serious yet. It’s unclear whether any new owners would buy the business side of the Lobster Pound as well, or just the property.
This is the second time in 10 years that the Lobster Pound is up for sale. Dick McLaughlin, the previous owner, said in 2016 that it had gotten hard to keep up with growing operating costs, including flood insurance that had reached $10,000 per year
The Lafayettes paid $700,000 for the business in 2017 while also assuming responsibility for other costs including about $16,000 in back taxes.
Jules Walkup is a Report for America corps member.Additional support for this reporting is provided by BDN readers.
