The building in New Road was among the lots in the six auction of 2019 by regional property auctioneers Clive Emson on Thursday (September 12). The former hotel was in high demand at the auction and sailed past its guide price of £85,000 to £115,000. It was eventually sold for £122,000 to a buyer from out of the area. The building already has planning permission for development, with consent for conversion into five flats and three town houses. Auctioneer Graham Barton said: "There was very strong interest in this iconic and well known former hotel. "Bidders clearly recognised the benefit of planning permission for this well located property on the riverside." The hotel closed in May 2011 after a fire and never reopened. At one point the hotel had 50 bedrooms spread over three and four floors in two buildings. The auction took place at the St Mellion International Resort in Cornwall.