Dartmoor Lodge Hotel, which has been on the market since July, has had its asking price reduced to £1.6 million.
The hotel, which occupies a prominent roadside position near the Devon Expressway between Exeter, Plymouth and the South West, was originally listed at £1.7 million.
The refurbished business generated net sales of circa £1.2 million last year and Ed Jefferson from Colliers International’s hotels team said the Lodge was ideally placed to welcome guests all year round.
Jefferson said: “There is plenty of potential to develop the business by reducing the private accommodation and creating additional bedrooms,” says Ed Jefferson.
“Our clients acquired the lodge in 2008 and carried out a thorough refurbishment which has reinvigorated the business. Having decided to pursue other interests they have decided to sell to allow new owners take this thriving business forward.”
Dartmoor Lodge Hotel sits in 1.65 acres of ground and has 23 en suite letting rooms, meeting rooms, a charming oak-beamed restaurant with 70 covers as well as one-double bedroom staff accommodation and a private five-bedroom flat for the owners.