June 25, 2008
Stinson owner rejects highest bid
The owner of the former Stinson Seafoods property in Belfast rejected the highest offer of $850,000 at an auction yesterday, but agreed to continue private negotiations with potential buyers.
The city has valued the 3.6-acre site, with 1,000 feet of frontage on the Passagassawaukeag River, a few factory buildings and a large warehouse, at just over $1 million, the Bangor Daily News reported.
Belfast Bridge LLC, the property's owner, stopped work on a $12 million marina, residential and retail project on the site in early 2007 due to financial problems. The property is listed for $3.1 million, and the auction was meant to stir up more interest. Alex Turner, the owner of Belfast Boat Yard, made the high bid of $850,000, hoping to acquire the property to expand his business, according to the paper.
The city has valued the 3.6-acre site, with 1,000 feet of frontage on the Passagassawaukeag River, a few factory buildings and a large warehouse, at just over $1 million, the Bangor Daily News reported.
Belfast Bridge LLC, the property's owner, stopped work on a $12 million marina, residential and retail project on the site in early 2007 due to financial problems. The property is listed for $3.1 million, and the auction was meant to stir up more interest. Alex Turner, the owner of Belfast Boat Yard, made the high bid of $850,000, hoping to acquire the property to expand his business, according to the paper.
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