The Bar 137 building and surrounding shops close to Church Street are expected to fetch a cool £500,000 price tag when they are auctioned off on Monday May 21.

It is just the latest commercial building to go up for auction in the resort.

Auctioneers expect the nightspot and buildings on South King Street to be snapped up because of their town centre location.

Bar 137, whose operation is unaffected by the sale, is opposite the UK’s biggest nightspot, The Syndicate, and forms part of the regeneration area of Central Blackpool.

George Walker, auctioneer and partner at Allsop, said: “Despite recent interest rate rises commercial property continues to appeal to private investors and this lot, which benefits from an excellent town centre location opposite The Syndicate, is expected to attract strong interest.

“Around 500 investors attend each of our commercial auctions and we’ve experienced no fall in demand over the last few months.

“Our May auction follows on from Allsop’s most successful first quarter to date, with the February and March sales raising in excess of £241m. Even now, with further interest rate rises predicted, investors appear to have ongoing confidence in the property market.

Posted: 05|10|07 at 8:48 am. Filed under: UK News.