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Hotel for sale in former Victorian residence in Cambridgeshire market town

08 12 20 Hotel for sale in former Victorian residence in Cambridgeshire market town hero

A hotel in the historic Cambridgeshire market town of St Ives that is on sale for just over £1 million could go back to its original residential use.

Oliver’s Lodge Hotel, which has 20 bedrooms, was developed around a detached Victorian House. It is being sold by hotel sector specialist Colliers International at an asking price of £1,150,000 for the freehold.

Paul Barrasford, director in the Hotels Agency team, said that Oliver’s Lodge Hotel is a mid-market accommodation-led business, but could also be returned to its former use as a residential property.

He said: “Originally a detached Victorian house, Oliver’s Lodge is an established independent hotel, popular with both corporate clientele and leisure visitors to the historic market town of St Ives and the surrounding region.

“It occupies a site of approximately 0.38 acres on a predominantly residential street, and it is felt the property may, subject to planning, lend itself well to redevelopment for, say, to C2 (Residential Institutions) or C3 (Dwellinghouses) use classes.”

Oliver’s Lodge Hotel comprises 13 double bedrooms; four twin bedrooms; one family room and two single bedrooms. There is also a function suite, a restaurant and bar, and parking for 20 vehicles.

Paul Barrasford added that Oliver’s Lodge Hotel was acquired by the present owner in 2008, and had been brought to the market because the owner wished to relocate to be closer to their family.

“Almost all of the hotel’s turnover is derived from accommodation. As such it is expected a new owner could achieve a much higher profit margin than is currently being realised,” he said.

“Oliver’s Lodge Hotel benefits from being located in the county of Cambridgeshire, which is one of the UK’s highest areas of growth. It is well placed to capitalise on a diverse client base including local businesses and visitors to St Ives and the surrounding area.”

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