WESTERLY – The Shelter Harbor Inn, located at 10 Wagner Rd., was sold for $3.1 million, according to Randall, Realtors Tuesday.
According to property records, the sale closed at $2 million, but Randall, Realtors said that the remaining $1.1 million was for the assets of the inn business, including furniture, equipment, website and intellectual property, among other items.
The property was last assessed at $1.83 million in 2016.
The seller was Shelter Harbor Inn Inc. The buyer was Shelter Harbor Holdings LLC. Both parties were represented by Chris Randall and Amy Randall of the Chris Randall Group, part of Randall, Realtors’ Charlestown office.
The property features a 24-room inn on 3.41 acres of land. The inn has a 4,000-square-foot restaurant, tennis courts and 60 parking spaces. There are three buildings on the property that account for 13,503 square feet.
The main building was originally built in 1800.
“It was a pleasure to take part in the sale of such an important and historic local landmark,” said Chris and Amy Randall in a statement. “This tremendous property, located in the secluded waterfront neighborhood of Shelter Harbor, presents the new buyer a myriad of options. We are delighted to know that they intend to continue its use as an inn and restaurant.”
Chris Bergenheim is PBN’s web editor. He can be reached at bergenheim@PBN.com.
