The 80-bedroom Best Western Calcot Hotel in Reading has been brought to the market by Colliers International with a £6.3m guide price.
The site has become available to buy for the second time in 46 years and has been owned by its current owner since 2016 who is now looking to pursue other business ventures.
Calcot Hotel, spread across two floors, comprises a restaurant and bar, plus two functions rooms and also comes with a supportive pre-application to develop an additional 25 bedrooms.
Paul Barrasford, director in the Hotels Agency team at Colliers International, said: “We are expecting interest from buyers looking to reopen the hotel business – or to redevelop the property for alternative use.
“Before the pandemic the business was performing well, yet there is significant scope to increase revenues. It also has a supportive pre-application to develop an additional 25 bedrooms.
“In addition, this extensive property is likely to appeal to buyers looking to redevelop it for alternative use; such as (subject to planning) a care, residential or senior living scheme.”