The Villa Esplanade hotel in Scarborough, North Yorkshire, has been sold to a local developer for a price of £1.25m.
The developer is now planning to convert the building into residential use.
The 19th Century Grade II listed building dates back to 1834, and comespris many original features and characteristics, which reportedly “offers unique opportunities to redevelop and refurbish the property”.
The site previously comprised 31 self-catered apartments, while space within the ground floor and basement was occupied by Mexican restaurant El Gringos and the Ink Lounge Bar.
The hotel is located on Scarborough’s Esplanade, situated above the cliffs, and offers “extensive” sea views across South Bay. The site is also a short distance from the town centre and within a mile of Scarborough railway station.
Tom Cunningham, the hotels director at Savills, who handled the sale, said: “Villa Esplanade presents an exciting opportunity for redevelopment in an excellent seafront location.
“The characterful property, with its original quirks and features, has created unique development potential and we’re pleased to have completed on the sale.”