Vacant bar, restaurant and hotel in 'prime seafront position' set for auction
- Credit: Auction House East Anglia
A substantial five-storey building, located in a prime seafront position, is set to be auctioned off later this month.
The vacant bar, restaurant and 12 bedroom hotel on Marine Parade in Great Yarmouth is being marketed by Auction House East Anglia.
It is set to go under the hammer at an online auction on June 16 with a guide price of £275,000 - £325,000 (plus fees) on a freehold tenure, with the auctioneers describing it as "ready for a new lease of life."
The former restaurant and 12-bed hotel at 56 Marine Parade, Great Yarmouth, is described as a "substantial freehold five storey building" in a "prime seafront position."
The property description from the auctioneers states: "Having been in the same family for many years this substantial hotel, bar and restaurant is now vacant and ready for a new lease of life."
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With the accommodation arranged over five floors, it adds: "The property comprises of over 5,250 sq ft of accommodation including a lower ground floor bar/restaurant, a ground floor restaurant with main kitchen and food preparation areas.
"On the three upper floors there is a managers flat, 11 bedrooms and various toilets and bathroom facilities.
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"This valuable freehold opportunity could provide excellent investment income or a thriving business for an owner occupier."