There will be huge disappointment in Spilsby tonight after the 17th century White Hart Hotel failed to sell at auction this afternoon.
The hotel, which has for months been a target for vandals, was lot 169 at the Park Lane Hotel, Piccadilly, and bidding started well at £100,000.
However, Allsop auctioneers set the guide price at £150,000-plus and in spite of a ‘reasonable amount’ of interest, bidding only achieved £145,000.
One local businessman who said he would be watching the live streaming of the auction is Mark Tong, of neighbouring Tong E J & Sons Ltd.
He said: “Sadly the hotel has suffered from a lot of vandalism while it has been empty – it’s an eyesore and not what should be at the centre of Spilsby. It would be great if a serious investor with plenty of money came along to develop it. I think there would be a demand for it.”
At the moment the property is still “available” on the Allsop website. We’ll let you know what is next for the building as we get more information.