The York Hotel in Portstewart could be open for business again within a fortnight

The York on Station Road in the seaside town gives its name to a famous hairpin corner on the circuit and is used as a vantage point and watering hole for countless bike fans.

It closed in January this year to the disappointment of thousands of bike enthusiasts and regular customers and there were fears it would not be open for this year's races - the biggest sporting event on the island of Ireland.

Around 250,000 people regularly head to the north coast for the premier road racing event that draws top flight competitors from all over the world.

The hotel went into liquidation owing more than £600,000 to creditors.

York Inn Leisure and Retail Ltd director Richard John Pollock (44) was disqualified from acting as a company director for seven years following PAYE, national insurance and VAT irregularities as well as dishonoured cheques.

The Department of Enterprise, Trade and Investment accepted 88 Disqualification Undertakings and 12 orders were made in court disqualifying directors in the financial year commencing April 1, 2013.

The popular hotel went on the market on March 20 this year, with offers of above £575,000 invited.

Agents described the property as a business

"Ready to Open".

They said:

"The York has traded strongly in the past and was popular with both local residents and visitors to the area.

"It's a bright, modern, well-equipped property that offers the successful buyer a "ready-to-go" business proposition and, in particular, the opportunity to reopen quickly and take full advantage of the seasonal trade.

"Portstewart and the surrounding area attract many holidaymakers and tourists due to the variety of activities on offer and the spectacular scenery and coastline.

"This particular property benefits from its location overlooking the Atlantic, so while we are expecting strong interest from licensed operators, it is also attracting interest from developers on account of its setting on a 0.35-acre site."

The business, which features heavily in TV coverage of the famous races, is now believed to have been sold to a family firm .

It is said the company plans to run it as a hotel and have it open in time for the big race meeting in just two weeks.

Colin O'Carroll