SCARBOROUGH’S youth hostel is on the verge of being transferred to a new owner as its sale enters the final stages.
The hostel, which is off Burniston Road, has been on the market since its closure was announced in May 2010.
Over recent weeks a Sold banner has appeared across the For Sale sign.
David Chapman, partner at CPH estate agents which is handling the sale, said: “The sale is at a very delicate stage at the moment so we can’t say much yet.
“However I can say that the building will have a continuing use for educational purposes.”
Scarborough Youth Hostel opened in 1935. Its first owner and warden was a Mrs Atkinson who eventually sold the business to the Youth Hostel Association. The hostel attracts around 5,000 stays each year, with occupancy of 51 per cent.
Duncan Simpson, head of corporate affairs and policy at the Youth Hostel Association, said: “Decisions about closing hostels are never easy.
“Our Board of Trustees thought long and hard about it.
“Over the years we have not had enough money to invest in our hostels. We face a backlog of investment in the region of £90 million simply to keep our facilities and services running.
“We plan investment of around £40 million in the next five years and we have already invested in a wide range of our hostels.
“By selling Scarborough we can continue to make this investment, delivering great experiences for our guests.”