A LANDMARK Newport hotel which closed earlier this year has been put on the market at a guide price of £1.5 million.

The 61-bedroom Kings Hotel on High Street shut in early January with owners blaming a “severe”

downturn in trade for its closure.

Savills of Cardiff, which is handling the sale and has invited offers around the guide price, has already shown around one party interested in using the site as a hotel.

Gareth Carter, director of development at the agents, said the £1.5 million guide price covers both the hotel and four buildings at the back, some currently used for retail.

Mr Carter said a couple of people had viewed the property already – one was looking at reopening it as a hotel and another looking at a mixed use proposal with converting the bedrooms into student accommodation.

He said the latter party was “looking at some form of retail, possible a cafe” as well as accommodation.

If it was to be used as a hotel again he said the Kings Hotel would “be more of a budget hotel in that location. It’s got to change from its current lay- out because it’s designed for a use that’s no longer appropriate in the current market place for both music venues and hotels.”

He said he envisaged some change of use and redesign of the ground floor and first floors.

Two units in the buildings at the rear of the hotel are taken up by a fast food takeaway and hairdressers on Upper Dock Street.

A large corner unit, facing Market Street and Upper Dock Street, was previously occupied by a bookstore but is vacant.

The Kings Hotel is thought to be around 200 years old, and once enjoyed a reputation as a live music venue which hosted Van Morrison, Jerry Lew Lewis and Robert Plant.