DERRY — The town wants to sell a prime piece of real estate on Manchester Road.
The site of the former Pinkerton Tavern at 13 Manchester Road is up for sale and town councilors hope to find a buyer soon.
The council held the first of two public hearings on the potential land deal Nov. 5. The second hearing is set for Nov. 29, with a possible vote to sell the land set for Dec. 3.
Acting Town Administrator Larry Budreau said there is an interested buyer, but would not give specifics.
In 2006, councilors approved a tax increment financing, or TIF, district to widen that portion of the crowded roadway. Deals with affected property owners were negotiated, some by permanent rights of way, others by temporary slopes or easements. Many in town fought the eventual demise of the Pinkerton Tavern at that time.
The town paid $722,842 for the Pinkerton Tavern property in 2011. The tavern building was torn down the following year.
The tavern was one of 15 properties standing in the way of the town’s Route 28 widening project from the Crystal Avenue/Tsienneto Road intersection up toward Ashleigh Drive.
The road widening was complete and now the 1.38-acre parcel is for sale, assessed at $255,500.
Budreau said by selling the land the town could restore $7,500 to its tax revenue. Additional development at the site could also bring in more tax money.