The Red Lion Hotel in Luton is up for auction - with a guide price of £2.7m

The auction will be broadcast via livestream
The Red LionThe Red Lion
The Red Lion

The Red Lion on Castle Street is set to be sold at auction next month – with a guide price of £2.7m.

It’s one of 48 properties up for grabs, including a Whisky Shop in Scotland and a post office in Wales.

The hotel is let on a lease guaranteed by the Stonegate Pub Company until 2045 – and brings in £212,657 in rent a year.

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Acuitus Director, David Margolis, said: “Investors are being attracted to the leisure and hospitality properties by the long leases they tend to feature and the sustainability of the income they provide. This asset has those qualities, as well as a potential long-term development angle, and we expect strong interest.”

It has eight function/meeting rooms plus17 guest rooms with en-suite facilities and 12 on-site parking spaces.

The auction is on July 12 at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.