Ashley Hotels, which bought the property for £900,000 in 2017 and planned to extend and refurbish it, has opted to sell the asset after a rethink.
The grade two-listed building will be sold on 14 July through Pugh Auctions with a guide price of £750,000,
In May, Place North West reported that Ashley’s proposals to revamp the derelict building and create a 121-bedroom hotel by adding a five-storey extension, had been withdrawn due to concerns over the viability of the project.
However, the hotel company had been expected to submit an application for an amended, scaled-back scheme.
The application never materialised and a spokesperson for Townscape, the planning consultant for the withdrawn scheme, said that the decision to sell was most likely prompted by concerns over the financial impact of Covid-19.
The building, constructed in 1902 and located on the corner of Village Way and Third Avenue, previously operated as a pub under landlord Enterprise Inns, before closing in 2009.
The building has several structural issues having lain derelict for the past decade, including timber decay and collapsed floors.
Ashley Hotels has been contacted for comment.