A LARGE country pub is going under the hammer for half a million pounds.

The Junction Tavern in Polegate is among a record number of 137 lots in an online auction taking place later this month.

The pub will be offered with a freehold guide price of £500,000 at the next auction by Clive Emson Land and Property Auctioneers on Wednesday, September 23.

On a site of 0.21 acres, the Junction Tavern has been renovated and has plenty of indoor and outdoor seating space and a stylish bar.

The building has a former function room on the ground floor and more upper floor rooms which are currently being converted into two homes and could be used as rented accommodation.

Director and senior auction appraiser Sam Kinloch said: “This is an exciting opportunity to acquire this substantial mixed-use property, comprising a ground floor public house known as the Junction Tavern and part ground and upper floors with planning permission for change of use into two House in Multiple Occupation (HMO)s, comprising a total of ten units.

“Sold with vacant possession, the entire property – once completed – will offer an ideal business opportunity or could be let to provide a good income.

“The HMOs will provide ten bedrooms with en suite facilities and two kitchen and dining rooms, offering a projected gross income of £85,000 per annum.

“It is also considered that there may be further potential for extension of the existing building to provide extra accommodation or possible reconfiguration into self-contained flats, subject to all necessary consents being obtainable.”

The pub currently has a four-star rating on TripAdvisor, with reviewers praising the decor following its refurbishment.

Despite the impact of the coronavirus pandemic on the hospitality and retail industries, auctioneers say there has been an increasing interest in commercial property this year.

James Emson, managing director at Clive Emson, said: “Residential and commercial property, along with land, continues to attract strong investor interest, with each one of our online auctions since lockdown attracting increasing lot numbers and digital audiences.

“Bidders are searching for far better returns than can be had with cash deposits in banks and building societies during this era of ultra-low interest rates.”