Morgan House for sale

LEE – The iconic Morgan House Inn is for sale.

“We thought it might be time to put it on the market,” said Pamela Loring, who’s owned the Morgan House with her husband, James, for the past five years. “We thought that if it was known…it could be perfect for somebody.”

The building and business are currently listed for sale at $649,000.

Ms. Loring said she and her husband aren’t selling the Lee institution because of any business problems. On the contrary, she said the Morgan House was doing quite well.

“If anything, we’ve brought it back,” Ms. Loring said in comments to The Beacon, adding she and her husband originally bought the property to restore it to the reputation it had when they first started coming there as customers. “It’s vibrant and successful.”

Ms. Loring said when they purchased the property, they did it with the intention of owning it for five to seven years, and they’d put it on the market now so that they could begin the process of passing the inn onto its next owners, as finding a buyer might take some time.

In the meantime, she and her husband are satisfied with continuing to run the inn: “We’re happy to be there….until the next steward…comes along.”

Ms. Loring expressed a fondness for The Morgan House and its history.

“I love the fact that it’s been the Morgan House since 1853,” she said. “No one has radically changed it.”

When asked what she’d like to ideally see in the next owners, Ms. Loring said she hoped they valued this facet of the business as well.

“It would be nice to have the next owner appreciate...that,” she said.

Ms. Loring also pointed out the Morgan House’s many desirable features, including a large kitchen, separate prep kitchen, its own parking lot, a bar, a restaurant, a living space, a small fenced-in yard and 11 guest rooms.

“It just has so much potential,” said Ms. Loring, who also brought up the idea of future owners installing a fire pit in the backyard. “It’s pretty unique.”

So far, Ms. Loring said no buyers for the inn have approached her or her husband, a situation she fully expected this early in the process.

Posted by Bera B. Dunau on March 7, 2013. Filed under Community News,News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry