Front Street Shipyard to purchase Belfast BoatyardCompany expects deal to be finalized by September
Belfast — Front Street Shipyard, which has grown into the Northeast's largest shipyard north of Newport, R.I., announced Sunday, July 29, it is finalizing a purchase and sales agreement with Belfast Boatyard.
J.B. Turner, president of Front Street Shipyard, discussed the company's intent to purchase Belfast Boatyard during a July 3 City Council meeting. Turner explained why the company was seeking a $200,000 Community Development Block Grant to expand its facilities. He said the grant money would be used to purchase equipment and relocate the Belfast Boatyard office building, as well as repair and strengthen the wooden dock on the property.
During that discussion, Turner told councilors the need for more off-site storage was a driving factor in the company’s plans to expand — a need Turner reiterated during a telephone interview Monday, July 30.
“We really need off-site storage. There’s always some need somewhere to have more space to store boats,” Turner said.
In addition to more storage space, Turner said the acquisition of Belfast Boatyard gives the company access to deep water directly off of the bulkhead located on the property. Even though Front Street Shipyard has access to deep water, Turner noted the deeper water is located further out in the harbor from the property.
Turner declined to release details regarding the intended purchase, but he did say the employees at Belfast Boatyard are welcome to join Front Street Shipyard, as are the customers of Belfast Boatyard.
“The closing hasn’t been finalized yet; it probably won’t be until September,” Turner said.
According to a press release from Front Street Shipyard, the purchase of Belfast Boatyard will add 500-feet of deep water frontage, 22 slips and 20 moorings and harbor floats. Front Street Shipyard will eventually locate its business office and possibly crew accommodations on the property, according to the press release.
Belfast Boatyard is owned by Alex Turner and is located at 41 Front St. The company provides marina slips and moorings, full service boat repair, yacht restoration, mooring services and storage and hauling, according to its website.
A call to Belfast Boatyard requesting comment was not immediately returned.
Republican Journal reporter Ben Holbrook can be reached at 338-3333 or at email@example.com.