A former landmark hotel near Telford is to go under the hammer at auction for less than a third of its original £1 million valuation.
The Lea Manor Hotel site, near Albrighton, has stood empty for five years but could now be sold on Wednesday for just £300,000.
Auctioneers have listed the now derelict 16 bedroomed hotel, which is on a 1.4 acre site on Holyhead Road as a potential development site.
It is the second attempt by agents CP Bigwood to sell the site in a matter of months and the guide price has dropped by 25 per cent in a bid to attract a buyer.
In June, the property was listed at auction with a guide price of £400,000, but was not sold.
Colin Putney, of Birmingham-based CP Bigwood, said that the site was being sold with planning permission.
“It has planning for a change of use, which includes part-demolition and modifications, to create two homes,” he said.
The hotel is listed as Lot 39 for Wednesday’s auction, which will take place at Aston Villa football ground in Birmingham.
The former hotel and restaurant, which has been on the market since 2007also had an annexe, function room, bar, restaurant, kitchen and cellar and extensive car park.
During the 1960s and 1970s thehotel was a top nightspot and a popular Northern Soul venue.
In the past two years the boarded up hotel on the A464 Shifnal to Wolverhampton road has suffered serious damage in suspected arson attacks.
Fire crews were called to tackle a blaze which ripped through the roof of the single storey building in March this year.
And in February last year arsonists broke in by removing boarding from a window and set light to bundles of paperwork being stored in the main office which was still in use at the time.
The previous year travellers twice moved onto the site forcing Shropshire Council to place barricades across the entrances to the site.
By Pam Griffin