The demand the mid-range priced hotels in Wales and the border regions is recovering fast, according to hospitality specialists Colliers International.
With sales agreed on three mid-range hotels, Peter Brunt from Colliers International is scouring the region for additional hotels in the sub £500,000 bracket on behalf of a string of disappointed buyers.
Hotels director Peter has offers on the table for the Lansdowne Hotel in Brecon (asking price £375,000) Forest House in Coleford (£450,000) and the Brynafon Hotel in Rhyader, Powys, on at £395,000.
Peter Brunt said: “As a result of these offers I have unsatisfied buyers looking in Wales and the border regions for small hotels at prices below the £500,000 mark.
“We are seeing a steady stream of people inquiring after these properties all of whom have been disappointed to find that a sale has been agreed.”
With nine letting bedrooms along with a particularly spacious one bedroom flat for the owners, the handsome Lansdowne Hotel in Brecon is situated in a popular market town tourist destination and is on the market at £375,000 freehold.
Just down the road in Coleford in the heart of the Forest of Dean, Peter Brunt said Forest House ticked all the boxes for potential owners in search of a more relaxed lifestyle.
The owners of the eight-bedroom property enjoyed net sales of £274,663 in March. It is on the market at £450,000 freehold.
Peter also has offers on the table for the Brynafon Country House Hotel in Rhayader, Powys. The impressive country hotel in the heart of Red Kite country on the market at £395,000 freehold.
Peter Brunt concluded: “Viewing rates have soared and buyers are finding that properties are much less likely to sit on the market and that they need to pick up their skirts and chase.