A pub that dates back to the 1880s that occupies "a stunning historic building" in a coastal town is set to go under the hammer yet again.

The freehold pub with two flats above it is due to be auctioned off later this month.

The Grade II-listed Carousel public house in Lowestoft - featuring "two recently refurbished two bedroom flats above" - has been listed for auction once more.

The "impressive historical building" situated in a "prominent position" on High Street is due to go under the hammer on October 23.

The Carousel pub and flats in Lowestoft have been listed for auction. Picture: Auction House East AngliaThe Carousel pub and flats in Lowestoft have been listed for auction. Picture: Auction House East Anglia (Image: Auction House East Anglia)

Described as a "great ready made investment property", it is due to be sold on a freehold tenure with the business unaffected by the auction as the pub is currently leased until November 12, 2028.

It comes after it was postponed prior to a previous auction and then it went "unsold" at an auction last month - despite the bidding reaching £264,000.

Now, marketed once more by Auction House East Anglia, the Carousel pub and Flats 1 and 2 at 108 High Street, is up for grabs at an online auction on October 23.

The Carousel pub and flats in Lowestoft have been listed for auction. Inside one of the rooms. Picture: Auction House East AngliaThe Carousel pub and flats in Lowestoft have been listed for auction. Inside one of the rooms. Picture: Auction House East Anglia (Image: Auction House East Anglia)

With "two generous flats", it has stood "on the corner of the High Street" within the North Lowestoft Conservation Area since the 1880s when it was known as The Fisheries Hotel in 1892 - becoming The Spread Eagle in the 1900s.

Most recently known as The Wheatsheaf, the pub reopened under its new name last year.

It is due to be sold on a freehold tenure with a guide price of £260,000 to £280,000 plus fees.

The Carousel pub and flats in Lowestoft have been listed for auction. Picture: Auction House East AngliaThe Carousel pub and flats in Lowestoft have been listed for auction. Picture: Auction House East Anglia (Image: Auction House East Anglia)

The property description from the auctioneers says: "The owner has in the past two years made major improvements to the interior of the building costing £125,000 to include rewiring, new fire alarms, plumbing renewed and the roof has had repairs.

"Two generous flats have been completely refurbished and are currently yielding £1,200 pcm on a fixed term lease agreement with three years remaining.

"The pub is yielding £1,500 pcm."

There is also planning permission for the basement to be converted into a further flat.