The former Pittenweem Inn building, which has been vacant for almost a decade, is to be sold at auction.
The impressive two-storey listed building on Charles Street can trace its roots to the early 19th century.
It has previously traded as the Station Hotel and Anchor Inn. Its use as a restaurant and a pub ceased towards the end of 2013.
Since then the building has not been occupied. It was bought by a new owner in 2019 and planning permission was granted in 2020 to develop the property.
Fife Council approved plans to split the East Neuk building into four annexes with a total of nine bedrooms.
Pittenweem Inn auction
Now the building is being sold by Auction House Scotland with a guide price of £350,000.
It is described as an “exciting commercial to residential development”.
The listing states: “Formerly The Pittenweem Inn, this impressive category B-listed building is over two levels.
“The listing also includes a detached outbuilding and sizeable plot to the side, previously used as a patrons’ car park.
“Planning has been approved for conversion of the substantial main building and out-building into four, two bed and one, one bed apartments.
“Alternative conversion options, for example as a single dwelling, may be possible subject to any required planning consents.”
It was also previously granted listed building consent to replace its windows.
In letter to Fife Council at the time, architects Future Design Architecture, said: “Our clients are in a willing position to bring the Pittenweem Inn and the coach house be to its former glory.
“We believe that from the work that we are proposing will allow the building to survive in the future and stop any further decay from within.”
Development potential
The auction description adds there may be further development potential of the site.
It adds: “The former car park to the side of the main building also offers potential as a single building plot subject to additional planning approvals.
“The fantastic added value potential, allied with the competitively positioned guide price, makes this project ideal for a builder/developer to pursue either of the development outcomes, whether for resale, holiday rental, to create a fabulous family home, or a combination of those options.
“Early viewing is essential to fully appreciate the outstanding value and potential on offer.”
The auction takes place on May 18 at the Radisson Red hotel in Glasgow.
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