A DESERTED town centre building previously occupied by a banking branch is set to go under the hammer and could fetch half a million pounds.

Lloyds Bank vacated its Frinton property in 2018, a year after the town’s NatWest bank shut down and ahead of this year’s closure of Barclays.

The Connaught Avenue building is now heading to an auction being held at the Cheffins salerooms, in Cambridge, next month.

The three-storey multi-use structure, which incorporates a prime retail shop with a total frontage of 11.8-metres, in expected to sell for about £500,000.

Its appeal and price tag is also boosted by the site’s pair of substantially-sized duplex apartments and its location in the heart of the busy seaside town.

Planning permission was also granted in July 2018 by Tendring Council for the conversion of the two large flats to be transformed into four one-bedroom flats.

Ian Kitson, director at Cheffins, said: “Property needing refurbishment continues to be eagerly sought-after throughout East Anglia.

“These types of projects are becoming harder to come by as both private buyers and developers compete for the best examples.

“This September sale sees a good mix of commercial investment opportunities and land lots which will be of interest to investors as well as end-users.

“We expect those lots on offer to see a good deal of interest on the day.”

The auction will take place on September 15 from 2pm and can be followed online by visiting cheffins.co.uk or contacting 01223 213343 for more information.