The long-vacant Finnerty’s Country Squire Restaurant at the corner of Main and West Plain streets has a new lease on life.
Actually, friends and Wayland residents Matthew Levy and Jesse Adelman hope it has several new leases in the coming months.
Levy and Adelman purchased the property at 150 Main Street with the hopes of leasing it out to several retail and restaurant tenants.
Levy said his and Adelman’s families were “sitting around in the spring” talking about the vacant building and how it would be “a great location for an ice cream shop” or other services.
That conversation got the ball rolling on what would become months of negotiations with the former owners, which the Board of Assessors listed as Gerard Finnerty Estates. The negotiation paid off in early February and Levy and Adelman became the new owners.
“[We’re a] couple of local guys wanting to do something good in the area,” Levy said, noting that there are no definite tenants for the space as yet. “Now that we finally own it, we hope that things will pick up a bit.”
The plan is to lease space in the building to multiple tenants. Because of septic codes, the property can no longer accommodate a single large restaurant, though “hopefully there might be a restaurant component and some retail outlets as well,” Levy said.
“What we’re looking for is something to enhance the neighborhood and bring some amenities to that area,” Levy said, noting that an ice cream shop could work there, “but so could a lot of things.”
Whatever does take up residence at the old Finnerty’s site, Levy said it “would have to make sense to everyone.”
“I think the Cochituate neighborhood is very interested and wants something to happen,” Levy said. “It’s a great location and a good site. Hopefully the time is right.”
Finnerty’s closed suddenly in 2005 and has sat vacant since. Levy said the years of neglect have taken their toll on the building.
“Our plan was to try to redevelop the current building,” he said. “But we’re not sure the building can be saved.”
According to the Board of Assessors, the building and land at the property are valued at $1,556,900. The Registry of Deeds lists the sale price at $1,137,500.
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