Places to stay in South Shields: Auctioneer Strettons announces sale of two Ocean Road 'boutique hotels'
Looking for a new business venture just a stone’s throw from the seaside? Two “boutique hotels” in South Shields town centre are about to go under the hammer.
The properties – at numbers 79 and 107 Ocean Road, South Shields – will go to auction in February with guide prices of £275,000 each, according to property auctioneer Strettons. Both recently refurbished, the lots are being marketed as “boutique hotels” with potential annual turnovers of around £120,000 respectively.
Number 79 is made up eight bedrooms and also features a games room, while number 107 has seven bedrooms and a one-bed flat. Both properties are fully furnished.
Andrew Brown, auction director at Strettons, has praised the listings for their central location and potential to be popular with tourists visiting the North East.
He said: “Both properties are ready-to-go businesses and are sold completely furnished. They are on a good road and close to South Shields Metro, South Marine Park and the Ocean Beach Pleasure Park, so would be popular with tourists visiting the area. We expect them to appeal to an investor looking to take on a new business venture or a local hotelier who may be looking to add to their portfolio of properties.
"Whilst the properties could be retained as hotels, they could also be converted into flats or a HMO, subject to the purchaser obtaining all necessary planning consents. I am looking forward to seeing how they perform on the day.”
In recent years, a number of guest houses and bed-and-breakfasts on Ocean Road have been given planning approval to convert back into residential use.
Viewings of the Ocean Road properties are available on Thursday, February 2 between 11am and 11.30am. Contact Steven Cane on 020 8509 4472 or via email for further details.
Strettons’ February sale – which features properties from across the country – will be live-streamed and registered bidders will be sent a link before the auction starts to place their remote bids. All legal packs can be viewed online in advance and the registration process is fully automated online.
The auction takes place on Thursday, February 9 at 12pm. For more information, visit the Strettons website here.