UPDATE: £875,000 Solent fort fails to sell at auction

Horse Sand Fort went under the hammer this afternoon with a reserve price of £875,000 but no buyers were willing to stump up the money needed.

The fort, which was completed in 1880, was one of four built off the coast of the city to protect against seaborne attack.

Auctioneers Lambert Smith Hampton carried out the sale but the bids fell £5,000 short of the reserve price.

The property was being sold on behalf of owner Clarenco LLP.

The fort was originally used as a military defence to protect the city against French invaders, but because it took 15 years to complete it was barely needed to help in the battle.

It was rearmed during the two world wars before being deemed surplus to requirements by the Ministry of Defence in the 1960s.

It cost £425,000 when it was first built.