A former Victorian residence in Cambridgeshire is expected to attract attention from hoteliers, and also care home and residential developers, following a price reduction to below £1 million.
Oliver’s Lodge Hotel, in the historic market town of St Ives, is being marketed for £995,000 by commercial property specialist Colliers, after previously being on sale for £1,150,000 last year.
Paul Barrasford, director in the Hotels Agency team, said: “The successful vaccination programme and easing of lockdown restrictions are supporting far more positive consumer and investor sentiment than we saw in 2020.
“With a broad range of leisure and corporate guests, plus its position in vibrant Cambridgeshire, there is a strong case to retain Oliver’s Lodge as a hotel. At the same time, we expect the property to attract attention from both care home and residential developers.”
Oliver’s Lodge, which occupies a site of approximately 0.38 acres on a predominantly residential street in St Ives, was built in the Victorian era as a private residence and is now a 20-bedroom hotel.
The freehold property comprises 13 double bedrooms; four twin bedrooms; one family room and two single bedrooms. There is also a function suite; residents’ lounge; restaurant and bar; and parking for 20 vehicles.
The property is offered for sale because the owner wants to relocate to be closer to family.
