Five Star Blackpool hotel 'Number One South Beach' up for auction with £700k starting price

The Number One South Beach is a 15 bedroom, luxury licenced hotel in South Shore, with all rooms en-suite.

New to the market and of Blackpool's few five-star hotels, it is being offered for sale with a starting bid of £700,000.

It is described as having "stunning views of the sea, promenade, and Solaris Centre".

Get the latest headlines, straight to your inbox, with The Gazette’s free emails Viewing is available via Kenricks estate agents, subject to the fees, terms and conditions of the auctioneers, Pattinson Auctions.

The property auction has now gone live and potential buyers can theoretically begin bidding, but they are advised to wait a week until the legal packs, including boundaries, searches and Land Registry details, are in place.

Bids can be made up until the end of the auction cycle on April 2, but if a bid is made which the vendor accepts, contracts will be exchanged and the auction will end before that date.

Why sell by auction?

Paul Crossley, managing director of Blackpool-based Kenricks estate agents, said: "Selling by auction is so much easier and stress-free and that's why a lot of vendors do it.

"When a property is being sold by private treaty - which involves selling between two individuals who negotiate with one another, usually through an estate agency - the buyer can suddenly drop the price at the last minute.

"It can put a lot of pressure on the seller, especially if they are in a chain and are trying to buy another property.

"But in an auction, the buyer is not allowed to do that - they must stick with their original asking price or lose 10 per cent of their deposit.

"Once the deal is struck they can't wriggle out of it - so they have to mean business when they put in the offer.

"We have successfully sold lots of properties via online auction."

Paul says that it is commonly supposed that only very well-off people can afford to put in a bid by auction, but that was not the necessarily the case.

Another commonly held perception - that only run-down properties went up for auctions - was also untrue.

He added: "This one is a case in point - it's one of the few five star hotels in Blackpool, in beautiful condition, in a great location and as a business, it's been a highly successful operation."