Hotel to be converted into residential use following sale
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A North Yorkshire hotel has been sold to a local developer for £1.25m.
International real estate advisor Savills, on behalf of private client, has completed the sale of the Villa Esplanade hotel in Scarborough. The purchase will see the building converted into residential use.
The 19th century Grade II listed building dates back to 1834 and comprises many original features and characteristics.
It previously comprised 31 self-catered apartments while space within the ground floor and basement was occupied by Mexican restaurant El Gringos and Ink Lounge Bar respectively.
The site is a short distance from the town centre with Scarborough railway station under a mile away.
Tom Cunningham, hotels director at Savills, 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.”