Dundee pub going to auction with £338k starting bid just days after being sold

A Dundee pub is set to go to auction just days after it was bought by new owners.

The Ambassador Bar on Clepington Road shut in January and was put up for sale.

It had an asking price of offers over £200,000.

But the property is now set to go under the hammer next week with an opening bid of £338,000.

It also has a buy now option of £375,000.

Ambassador Bar sold but now set for auction

It is understood the pub was sold to a new owner in recent days, who has already put it back up for sale.

Details of the new owner have not been revealed.

Future Property Auctions describes the site as a “prime commercial investment” with a rental value of £60,000 a year.

A separate sign on the outside of the pub is also advertising the site for rent or potential sale.

That listing, through TSA Property Consultants, says it is looking for rent of more than £30,000 per year or offers over £275,000 to buy the building.

Kate Fraser ran the Ambassador for nearly a decade before announcing its closure in January.

There has been speculation the site could be redeveloped for housing, but any future plans would need permission from the council.