Cape Breton police suspect a fire that destroyed a barn full of classic cars and boats was deliberately set.

The fire in Birch Grove was first noticed early Saturday morning. Several fire crews tried to put out the blaze, but the two-storey barn and the 15 vehicles and five boats inside were destroyed.

"It's devastating," said barn owner Sheldon Smith, who estimates the value of the vehicles at about $500,000.

"These things are all antique vehicles worth anywhere from $30,000 to $50,000," he said. "One gentleman alone, he estimates his loss at about $250,000."

The vehicles in the barn included a 1948 Ford truck, a 1955 Chevy Nova II racing car and a 1957 Chevy Bel Air.

Cape Breton Regional Police said it appears that arson is to blame and continue to investigate the fire.