The Belvedere Hotel, which is available freehold, is up for sale for around £5m.
According to Ed Bellfield, director at Christie + Co, which is marketing the hotel, it is particularly suited for “a forward-thinking individual or experienced operator who is willing to substantially invest in the hotel’s future potential”.
He also said the property could offer a good opportunity for redevelopment, subject to planning permission.
“This is a family-owned hotel, which is a retirement sale. Over the past decade, the family have bought another two adjacent hotels and incorporated the three into one,” explained Bellfield.
“As a result, the way the site is configured does not make the best use of the land, and there has been some interest in the past from developers who wanted to use the site to build a new hotel that is more efficient to run.”
However, because the hotel is being sold along with the company that runs is – Vista Hotels Limited – the Belvedere could also be purchased and operated in its current form until the funding market improves, he told BigHospitality.
The three-star hotel is on a 1.2 acre site and includes three conference rooms, a heated swimming pool, sauna, Jacuzzi, gym and treatment room. It also has three banqueting suites with total capacity for 250, as well as a public bar.
Business is a combination of commercial and corporate clients, with turnover last year coming in at £1.46m.