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Tuesday, February 21, 2012

General Lafayette Inn is back on the market

The General Lafayette Inn in Lafayette Hill is back on the market.

Sovereign Bank, which acquired the property in a foreclosure, is asking $1.35 million.

The inn, on Germantown Pike just north of Chestnut Hill, was last operating as a brewpub. It closed in September 2010.

Kevin Barmann of Keller Williams is handling the sale; he says the package includes the restaurant, brewery equipment, liquor license, five-bedroom bed and breakfast, two parcels of land, and the cottage.

A patrons association that has formed to support the restaurant when it reopens. 

Listing is here.
Posted by Michael Klein @ 2:58 PM  Permalink | File Under: TableTalk | 8 comments
8
Comments   
  • 0 like this / 0 don't   •   Posted 3:42 PM, 02/21/2012
    is that the spot where the one guy killed his co-owner?
    — OhOkay
  • 0 like this / 0 don't   •   Posted 4:51 PM, 02/21/2012
    No, that was the General Wayne on the main line.
    http://en.wikipedia.org/wiki/General_Wayne_Inn
    But GL is old enough that someone must have been killed there.
    — Jack Bellis
  • 0 like this / 0 don't   •   Posted 5:36 PM, 02/21/2012
    It is rumored to be haunted .... and not just by current creditors.
    — cwdonald
  • 0 like this / 0 don't   •   Posted 6:37 PM, 02/21/2012
    Brew pub is a tough sell with the new Iron Hill that just opened down the road in Chestnut Hill. What the area needs a good restaurant. You can't get a table at the Boot across the street it's so busy.
    — flamingo
  • 0 like this / 0 don't   •   Posted 8:28 PM, 02/21/2012
    The place needs a lot of work. I'd say that the price is 3/4 the liquor license. Gen. Lafayette was great when it originally was turned into a brew pub. They had a great chef and menu and good beers. They just never made enough money to keep the place up. I hope that someone decides to buy it, but I think it would take double the purchase price to rehab it into a destination.
    — Palestra Jon
  • 0 like this / 0 don't   •   Posted 10:40 AM, 02/22/2012
    Actually, a Montgomery County liquor license (and the Gen Lafayette's is an "H" or hotel license) sells for about $170,000.
    — Michael Klein
  • 0 like this / 0 don't   •   Posted 8:56 AM, 02/24/2012
    In that case, I doubt that Sovereign can get that price. I think the closest comparable is the old Inn in Fort Washington that became Alison II. They put in millions (of course, just to go bankrupt again) before it was a first class restaurant site. Gen. Lafayette is a good location but needs a top to bottom rehab.
    — Palestra Jon
  • 0 like this / 0 don't   •   Posted 10:15 AM, 02/22/2012
    An actual B&B would do well there for people looking for an alternative to the hotels in Conshohocken.
    — scargosun


8 comments
About Michael Klein
Michael Klein, the editor/producer of philly.com/Food, writes about the local restaurant scene in his Inquirer column "Table Talk." Have a question? Email it! See his Inquirer work here.
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