No Bids for Oceanfront Campground

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March 4, 2009 by   - () Leave a Comment

An auction on Tuesday (March 3) for the 148-acre Ocean Wood Campground near Gouldsboro, Maine, had no bidders. The property is being foreclosed upon by Schoodic Point LLC, which has held the mortgage in exchange for more than $7 million it has lent to the owner, according to the Bangor Daily News.
But the man who claims he still owns the property is not giving up without a legal fight. James Brunton, who has tried to file for bankruptcy so that he can retain ownership of a nearby wharf and the campground, said Tuesday by phone that he is consulting with his lawyers and trying to have his bankruptcy petition accepted in federal court.
“We don’t believe it is going to hold,” Brunton said of the auction.
Nicholas Bayley, whose company is trying to foreclose on the campground, said after the auction that he wished someone had been willing to bid the minimum price of $5.5 million on the property. Because there was no bid, Bayley said, he plans to hold onto the campground for now and hopes to find a buyer in the future. He said he is not sure what he will do with the property in the meantime, but would like to see it continue operating as a campground for at least this summer.
What will happen with the campground has been a subject of local interest because of the possibility that it could become part of a proposed resort that would be built on an adjacent 3,300-acre parcel on Schoodic Peninsula owned by Winter Harbor Properties Inc.
Many area residents have spoken out against the resort proposal because of the adverse effect they say it would have on the peninsula and on the abutting Schoodic portion of Acadia National Park. Others have said it would benefit the peninsula’s economy, which has suffered ever since the Navy closed down a base at Schoodic Point in 2002.

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