A BIDDING frenzy erupted when the Trafford Park Hotel went under the hammer, with 250 buyers scrambling to bank the iconic building – and it sold for almost £1million.

The Grade II listed building came to online auction with John Pye Property as part of its January auction.

The bidding war went on for almost two hours after the auction officially closed and saw the hotel fetch nearly three times the listed guide price.

Originally listed for £350,000, the property eventually sold for just shy of £900,000.

Richard Reed MRICS, head of property at the online auction house, said: “This property certainly attracted a lot of attention as we were inundated with around 150 enquiries.

“Previously we’ve had bidding on properties continue for up to 40 minutes after closing, so this is a new record. Given the building’s potential, it is easy to see why it was so popular with bidders.”

It was thought that the building could be renovated into a hotel or turned into apartments fetching £80,000 to £120,000 each. However, it is currently in a poor state of repair and needs a considerable amount of work before it can be inhabited again.

The hotel was built in 1902 and has long been hailed the “finest building in Trafford Park”.

A year after the Trafford Park Hotel opened, schools, churches and houses were built in 'The Village', with business booming in the world’s first industrial park.

Although it is now boarded up, it is still a favourite subject of amateur photographers.