A landmark town centre building is back on the market – despite its owner successfully getting planning permission for a restaurant and flats.

Ozer Osturk bought the former Bar One pub in Sheerness at auction at the beginning of last year.

In October, he was granted planning permission by Swale council to turn it into seven one-bedroom flats and the ground floor into a restaurant.

He had been in talks with “big” companies such as Nandos to move in.

But the empty building, which has the address 1 High Street, is now set to go under the auctioneer’s hammer again on Thursday, June 14, with a guide price of £190,000 to £200,000.

Mr Osturk paid £230,000 for it, which was above the guide price when it was initially auctioned.

Although he wasn’t very familiar with Sheppey when he bought it, he said he had decided it was a good investment because it was near the station and the town.

But after months of talks with food retailers, Mr Osturk has taken the decision to sell as he cannot get anyone to take up the space.

Nandos and KFC did not want to come to Sheerness.

“They are not interested. The location is the best place but I think it’s because not many people live there.

“I tried for more than a year and it’s also the problem [of] financing – I don’t have the money to build up the house and shop.

“I know I will probably lose money but what are you going to do?”

Will Page, a senior auction valuer with Clive Emson, said: “We anticipate a lot of interest in this premises because it is keenly priced and has the green light for seven flats and a retail unit.

“There is a lot of bricks and mortar here for the money, and in a prominent location.”

Other lots up at the same auction include a nine-bedroom house at 270 High Street, Sheerness. The property has a freehold guide price of £170,000 to £180,000.