A Kittery waterfront restaurant property heads to auction — again
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Warren's Lobster House restaurant has closed and the property is due to be auctioned off.
The former Warren’s Lobster House property in Kittery is going up for auction for the second time in a year after a sale fell through.
The waterfront property at 9 Water St. includes 15,300 square feet of commercial space in the restaurant, a commercial lobster pound and 600 feet of river frontage. There's also a 2,450 two-unit residential building at 11-13 Water St.
The 1.35-acre property, on the Piscataqua River, has an assessed value of $2.44 million. It's adjacent to the Memorial Bridge between Portsmouth, N.H., and Kittery.
In recent years, the restaurant suffered storm-related flooding, and owner Scott Cunningham with WLH Management Corp. had said last fall, “Ultimately it is no longer sustainable to operate and maintain a building located on a pier over the water."
The property has been on the market several times and at one point there were plans to demolish the restaurant and build condos.
Last October, an auction was scheduled but then halted when a potential sale was under negotiations.
This upcoming auction, scheduled for June 20, will again be handled by the Portland office of Tranzon Auction Properties. Bidders are required to make a deposit of $25,000 in cash or certified funds and close on or before July 31.
Tranzon CEO Mike Carey said on the company's website, “This is a one-of-a-kind opportunity for investors, developers or entrepreneurs to own a piece of waterfront property with rich history and unmatched potential."
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