The owner of a 101-year-old seaside pier today said he was planning to auction it on the internet.

Mike Paxman bought Victoria Pier in Colwyn Bay, north Wales, in 1994. He has completely overhauled the once-derelict structure. He hoped to transform its large ballroom into a casino and tourist venue, but was held back by fire regulations.

Mr Paxman, 57, tried to raise the cash for further building work but now says he is tired of the stress involved.

He plans to advertise the cast iron, steel and wood structure, which is 50 metres (160ft) long and 15 metres wide (50ft), on the auction site eBay.

He said: "The pier has been a real labour of love for me and my wife.

We have worked extremely hard on it and I am still convinced it has huge potential, if you have the money to invest. But there comes a time when you feel you can't take any more stress, and it is time to sell.

"It will be on eBay within the next two weeks. I want to put it on the internet because that may attract a global developer who has the cash to do it properly."

Mr Paxman, who also works as a marine engineer, refused to reveal how much he paid for the pier or how much he hoped to sell it for.