Four Blackpool Hotels to feature in Pugh's October auctions
Written by: Paul Thompson on 3rd October 2019
A total of four hotels in Blackpool are due to go under the hammer at Pugh’s next North West property auction at the AJ Bell Stadium in Manchester on 15 October, with guide prices ranging from £60,000 to £165,000.
The 18‐bedroom Beverley Hotel on Charnley Road is among the properties up for sale. It is let to OYO hotels and, with an annual rental income of £20,000, it has been given a £165,000 guide price.
Also included in the auction is the 25‐bedroom former Bahria Hotel on Lytham Road, which has planning consent for conversion to nine self‐contained apartments and a guide price of £150,000.
With a £75,000 guide price, neighbouring property, the former Embassy Hotel, has ten bedrooms and planning consent for conversion to three separate apartments.
The former Silverdale Guest House on Palatine Road has ten bedrooms and requires complete refurbishment. It has been given a £60,000 guide price by Pugh.
Pugh managing director Paul Thompson said: “It is certainly a good time to invest in the town, with newly announced initiatives such as the Blackpool Pride of Place Partnership which aims to boost the economy by £1bn in the next decade.
“Former hotels, particularly when they have planning consent for conversion, as two of these properties do, represent a good opportunity for savvy investors and we are seeing encouraging levels interest in all four of these seaside properties.”
For more information on the Blackpool hotels, and to view the full auction catalogue, click here.
Written by: Paul Thompson on 3rd October 2019