Land Bank Buys 3 Acres At Head Of Hummock Pond For $5.45 Million
Jason Graziadei •
The Land Bank completed another major acquisition on Friday, closing on a deal to acquire 3.36 acres off Millbrook Road for $5.45 million.
The property at 76 Millbrook Road is located along the Head of Hummock Pond, and abuts other conservation land owned by the Nantucket Conservation Foundation.
The acquisition includes a nearly 3,000-square-foot, three-bedroom home that was built in 1986 and renovated in 2010. It is located in the LUG-2 zoning district.
The plan is to “undevelop” the property, and increase the area of protected shoreline along the pond.
"We plan to remove the house and septic system," Land Bank executive director Jesse Bell told the Current. "I haven’t gotten an opinion yet as to it’s movability but my sense is that given its size and being sandwiched in between two wetland resource areas, plus the very narrow road, it’s unlikely that it can be moved. If that is the case we will offer any appliances or interior finishes (cabinetry, counter tops, etc.) that we cannot use to the town and local affordable housing entities."
Land records show the property was sold to the Land Bank for the $5.45 million listing price by the family of Flint Beal, who had purchased it back in 2010 for $2.75 million.
Cam Gammill, of Fisher Real Estate, represented the Beal family in the sale and said there were a number of other offers for the property, but the Land Bank's proposal fit best with the family's wishes for the three-acre parcel.
"Once they saw the Land Bank step up and have interest at the level they were comfortable selling at, they were convinced they were the right buyer for a property that their father felt was so important," Gammill said of the children of the late Flint Beal.
Beyond removing the house, the Land Bank has big plans to use the new property to expand public access at an area that Gammill called "a hidden gem in our waterway system."
“As a shallow freshwater pond, head of hummock is a popular spot for fishing, boating, kayaking, birdwatching, hunting, and winter ice-skating," the Land Bank said in its announcement of the acquisition. "The Land Bank intends to create additional parking, watercraft storage, and an elevated platform for the public to enjoy spectacular, panoramic views of the pond and conservation land beyond.”
Gammill said he was particularly excited that the sale to the Land Bank could allow more people to experience the fishing at the Head of Hummock Pond.
"It's really a unique property, looking over at Sanford Farm and the open space," Gammill said. "Fishing-wise, Hummock Pond is amazing and really clean from being flushed twice-per-year (from pond openings) and relatively deep. It's an incredibly active fishery back there."
The acquisition continues the Land Bank’s spree of property buys in 2022, following the real estate boom last year that netted it record revenues of $50 million.
So far this year, the Land Bank has spent $33.2 million on properties at Eel Point, East Creek Road, Washington Street, Nobadeer Avenue, North Mill Street, Miacomet Avenue, and now Millbrook Road.