WONDERFUL OPPORTUNITY TO ACQUIRE A COUNTRY HOUSE HOTEL IN THE HEART OF DARTMOOR
The Lydgate Hotel is a small traditional English Country House Hotel in a truly idyllic and secluded spot in Dartmoor National Park. It offers a new owner the opportunity to enjoy a wonderful lifestyle business with a great income. This detached period property is held on a renewable 35 Duchy lease (approx. 21 years remaining).
The accommodation briefly comprises, 7 beautifully presented ensuite letting rooms, residents lounge, conservatory dining room, commercial kitchen, 3 bedroom adjoining owners’ accommodation and 3 bedroom stone built holiday cottage.
This two story detached Country House Hotel offers Bed and Breakfast accommodation. Dinner has been offered in the past and this could be an extra income stream for the new owner. The property is tastefully decorated and presented to an extremely high standard. Built in approx. 1800 it sits in its own stunning grounds of about 36 acres of moorland, woodland with the East Dart, a small river, meandering quietly through the grounds. The intriguing driveway is approx. 1/4 mile from the road leading the guests via this ancient tree lined track to this peaceful haven, an ideal location for those wishing enjoy a peaceful stay within the beautiful surroundings of Dartmoor National Park.
The Hotel is entered via a porch into the main reception hallway with stairs to 6 of the upstairs guest bedrooms. Off this hall is an office and the ground floor ensuite letting bedroom. Leading off the hall is the charming dual aspect Residents Lounge with a small mini bar and wood burner. The conservatory dining room which has 16+ covers also has a terrace that leads out to the gardens. From both these rooms there are spectacular views down the valley across the moor. Also on the ground floor are the Ladies and Gents cloakroom facilities. Upstairs there are six ensuite letting rooms, all named after local birds, 5 of which are doubles the other a single, all with lovely views over the grounds, and a family bathroom.
The kitchen is well equipped with fitted domestic units, 3 integrated ovens and an 8 ring range with extraction, non-slip floor, double sink and drainer. The large and very useful utility room houses further appliances and a dry goods store, both with outside access.
There is a cellar under the main house that houses the boiler.
This attractive stone and granite barn conversion is linked to the main building and has an open plan kitchen/dining room. The separate sitting room has a vaulted beamed ceiling with wood burner and vaulted ceiling has French windows that lead onto a sunny private terrace. There are 3 bedrooms, 2 doubles, one ensuite, on the first floor and a single. The corridor linking the barn to the main hotel has a large amount of storage and the family bathroom.
Swallow Cottage a very pretty 3 bedroom holiday cottage which sits in its own grounds with separate access and private terrace. This very pretty stone built cottage was rebuilt and converted in 2013 and is a popular holiday let. The fully fitted open plan kitchen/diner has integrated appliances, vaulted ceilings and ample room for a kitchen table seating 6. The living area has a wood burner. There are two double bedrooms downstairs with the family bathroom and the third bedroom with an ensuite is upstairs. All the bedrooms have countryside views and fitted wardrobes.
The grounds comprise approximately thirty six acres made up of; a small garden, sun terrace for guests by the conservatory, large gravelled parking area in front of the hotel for guests, private access and parking for Swallow Cottage, built in log store, four paddocks, ancient woodland, stream, all with the stunning backdrop of the moor.
The Hotel is in the popular village of Postbridge which is famous for its 13th Century ‘clapper bridge’ and provides the focus that attracts the large amount of tourists that flock to Dartmoor throughout the year. It has a small post office and visitor attraction centre. Postbridge is approximately 9 miles from the ancient market and stannary town of Tavistock which is steeped in history and offers an excellent variety of family run shops, famous pannier market and businesses alongside high street chains. Both the North and South Coasts of Devon are also easily accessible from the Lydgate Hotel with the A38 Devon Expressway only 15 miles away.
Rateable Value – 12,300. This is not rates payable. For more information we advise you to contact the local billing authority, West Devon Borough Council.
Lydgate House is a well-established and successful business which has been run by our clients for last 8 years. The hotel features in several guides and is showcased on many websites, generating impressive occupancy levels and strong repeat trade. Lydgate House appeals to an international clientele of walkers, cyclists, birdwatchers and the many people wishing to enjoy the beauty and tranquillity of Dartmoor. Rooms are priced from 95 to 132 per night on a B&B basis with a 5% discount for 3 or more nights.
Guests could have the opportunity to enjoy an evening meal as has been the case previously. This was a popular option for many and helps bottom line profits. The hotel is operated by a husband and wife team with one part time helper. This is a popular option for many and helps bottom line profits. The hotel is operated by a husband and wife team with one part time helper.
The hotel is closed in Januarys through the choice of the owner’s however could trade year round.
The addition of Swallow Cottage has further boosted income at the hotel and is a popular place to stay. Currently managed by Toad Hall Cottages, the property is available weekly at a tariff ranging from 454 to 1124 pw. Both the Hotel and Cottage benefit from very good reviews on TripAdvisor and are available to book online through booking.com and many other booking portals.
Lydgate House has a strong turnover and heathy net profit. Further trading figures will be made available to bone fide interested parties following a formal viewing arranged through the selling agents Chartsedge.
We have been informed that the property is held on a valuable Duchy protected Lease for 35 years from 2005 (21 years remaining). Current rental is 12,400 per annum, with 5 yearly rent reviews.
Mains Electricity, LPG for heating and cooking and a private bore hole for water. There is private drainage via a septic tank. There are 3 central heating boilers.
Price to include equipment and furniture as per an inventory to be supplied, but excluding the owners personal effects. Stock Will be in addition, at valuation, on the day of completion