A derelict building that has stood empty for years has been purchased.
The Grosvenor Hotel on Albert Road was sold before auction to Tony Banks, of Blackpool Promotions, amid fears the building could harm the development of a neighbouring property, which he also owns.
The businessman was forced to temporarily halt work to build a new leisure spa at the back of The Ruskin Hotel on Albert Road due to the poor state of The Grosvenor, which is next door.
His concerns followed a suspected arson attack at the boarded up Ambassador Hotel on the Promenade in North Shore in January.
Speaking at the time, he said: “I want to extend the Ruskin but I won’t invest £500,000 into the spa project while there is this uncertainty around the building next door.
“My biggest concern is that if that building (the Grosvenor) goes up in flames, my business will be threatened.”
Mr Banks, who also owns The Royal Carlton, The Royal Seabank, The Boston and Southbank hotels in Blackpool, added: “There are no plans yet. I want to get in and get it sorted first.
“It’s a derelict building, and has been derelict for years. It’s in a right mess, and it will get sorted, and we will deal with it from there.”
The Grosvenor Hotel, on Albert Road, ranked on average 1.5 stars on TripAdvisor before its closure. In 2010 it topped the Daily Mail list of ‘filthiest hotels in Europe’.
It was due to be auctioned on Monday, but was purchased by Mr Banks for an undisclosed amount.