First Street Business Brokers is proud to announce the sale of the Oar House Restaurant

28 Jun, 2022

First Street Business Brokers is proud to announce the sale of the Oar House Restaurant


Portsmouth’s landmark waterfront restaurant, The Oar House, will have a new steward beginning this season.  Ray Guerin and his family have owned and operated the legendary restaurant for the past twenty-five years, serving great food and incredible drinks.  They are passing the torch to a new owner, Casey Anderson, an experienced and local restaurateur. Casey’s goal is to honor the traditions of the Oar House while providing delicious new culinary and cocktail options.

After deciding to retire, Ray knew that selling the Oar House could be challenging.  The restaurant occupies two separate buildings and a waterfront deck.  The property is partially owned by Ray and partially leased, making it an interesting and complex transfer. Of course, it also sits in one of the most historic sections of Portsmouth and as with most restaurant ownership changes, would require some equipment upgrades and structural changes to make the facilities more compliant with today’s building codes. Moreover, Ray wanted to find the right person to continue to delight the locals and visitors of Portsmouth’s waterfront in the standard and tradition of the Oar House.

Ray knew he needed a skilled and trusted advisor to navigate the complexities of the sale. After learning from other restaurant owners about the First Street team and their extensive experience in restaurant sales, he engaged First Street to assist.  First Street is a leading restaurant and business brokerage company in Portsmouth NH.  It has worked with many iconic local restaurants including such names as Street, Mojo’s, The Riverworks, Dwyer’s Pub, The Big Bean, Mr. Kim’s, and Joseph’s by-the-Sea.  First Street Business Brokers is licensed in New Hampshire, Maine, and Massachusetts and specializes in restaurant transitions.