Entrepreneur Duncan Ridgley has revealed how he managed to buy an 18-bedroom hotel in Blackpool, Lancashire for just over £60,000 and a night out in the seaside town costs just £5
A man fuming at the soaring property prices across the UK has bought himself a grand 18-bedroom hotel, at the knock-down price of just over £60,000.
Ridgley explained the property enjoys a prime location right on Blackpool Beach. He said: "There's a pub up the road you can get a pint for £1.80, my neighbour runs a burger bar across the street, and he charges a quid for a burger, so you can have a night out for a fiver." Blackpool, once a holiday powerhouse in the first half of the 20th Century, saw massive groups of factory workers from Lancashire and beyond flocking to what was then the UK's leading seaside resort. In the early 1950s, as many as 17 million holidaymakers arrived to buy Kiss-Me-Quick Hats and marvel at the town's world-famous illuminations.
"Then this place came up at an auction and I thought it was too good to be true. It was advertised as £45k at auction. It was an 18-bedroom hotel. I thought 'There's got to be a catch,' but I ended up paying £61,000 for it."
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