Prince George National Hotel auctioned for $550,000

The National Hotel was sold for $550,000 when it went on the block at Ritchie Bros. Auctioneers on Tuesday.

Ritchie Brothers real estate services manager Kieran Holm declined to name the purchaser but said the bidding lasted 15 to 20 minutes.

The First Avenue building, which holds 32 rooms, a 56-seat restaurant and 186-person nightclub, and includes the lease for the Bon Voyage cold beer and wine store, had been assessed at $635,000 and the owners had hoped for $1.3 million to $1.5 million.

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