DERRY — Great America Subs owner Tim Ferris has big plans for the future — and it's not just some special sandwich.
The 34-year-old Londonderry resident signed a lease-and-purchase agreement yesterday for the former Taco Bell property at 41 Crystal Ave. Ferris, who already has sub shops in Manchester and at 44 Nashua Road in Londonderry, said he and business partner Mason Walsh hope to open their new business by Nov. 1.
"We're going to change things up from what we do in Londonderry," said Ferris, who has operated there for 12 years.
Although subs will be the staple of the eatery's menu, Ferris said they hope to also sell ice cream, coffee, doughnuts, yogurt and possibly pizza.
The 2,500-square-foot restaurant will have a drive-through window and be one of the few places around that serves ice cream year-round, he said.
The business deal was finalized yesterday with Summerview Real Estate owner and broker Steve Trefethen, representative for property owner Samara Properties LLC of Stratham.
Although they would not disclose the terms of the deal, Trefethen said the half-acre Taco Bell property, building and 6.25 acres in back were listed for nearly $1.7 million after Taco Bell closed its doors in late June after 20 years in business.
Trefethen said he is still in negotiation with other clients for use of the 6.25-acre lot, which could accommodate multiple businesses, a 200-car parking lot, and stretches from the entrance of Shaw's supermarket to Hood Middle School.
"We are working right now with some uses for that property," he said. "The possibilities are endless."
Seventy-five percent of the land, situated in a commercial zone, can be built upon, Trefethen said. It is listed at $750,000.
The site could be accessed through an easement between McDonald's restaurant and Gibbs convenience store, Trefethen said. At least 15 to 30 full- and part-time jobs will be created at Great America Subs, he said.
"We had quite a few people who wanted it," he said. "We have some really good people who are going to expand."
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