A prominent Llandudno seafront hotel is set for auction next month - with a guide price similar to an average home in Wales.
The Queens Hotel shut during the pandemic after earlier falling into administration with the collapse of Northern Powerhouse Developments, run by Gavin Woodhouse.
The site has remained shut since March 2020.
It was one of four North Wales hotels that were part of the Northern Powerhouse Developments group - alongside Llandudno Bay and Belmont in Llandudno and Caer Rhun Hall in the Conwy Valley.
Attempts to sell the sites had been complicated by leases attached to the hotels but last year Everbright Hotels bought the Belmont and Llandudno Bay in a deal with administrators. The Belmont has now reopened.
Now the large Queens Hotel will be auctioned with Allsop next month on behalf of the administrators.
It has a guide price of £200K to £250K - which is remarkably low for a 68 bedroom hotel on the famous seafront. This compares to the average price of a home in Wales of £203, 224 according to Land Registry.
The reason is the complication of the leases attached to rooms at the site which were taken on by investors in Northern Powerhouse Developments.
Allsop said: "The Administrators proposed an offer to the long leaseholders to surrender their long leases, the majority of whom were receptive to an offer."
The hotel would come on a 2,000 year lease.
The auctioneer added: "The property may lend itself to a variety of alternative uses and redevelopment,subject to the existing long leases and obtaining all the necessary consents."
The online auction takes place on February 3.
