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Impressive Detached Country House Hotel On Dartmoor

Postbridge, Devon
Leasehold Price:
£599,950
Status
FOR SALE
Advert ID
239267
Reference
5997 / Rightbiz

THE PROPERTY
Lydgate House is a substantial and attractive detached country house hotel with an adjoining owner's cottage and a further separate holiday cottage. The property is set in an elevated position with spectacular views over Dartmoor National Park Moorland and the East Dart River. Lydgate House has been the subject of an extensive programme of refurbishment over the last 8 years and consequently is now beautifully presented and furnished to a high standard throughout. The property offers: - 7 individual Ensuite Letting Bedrooms, Guest Lounge with Bar, Conservatory Dining Room with Ante Room, a fully equipped Catering Kitchen with separate Preparation Room, Self Contained 3 Bedroom (1 Ensuite) Owner's Barn Conversion Accommodation with Sitting Room, fully fitted Kitchen Diner and Family Bathroom.  Recently converted quality 3 Bedroom (1 Ensuite) Holiday Cottage with impressive open plan Lounge/Kitchen/Diner and Family Bathroom. Externally, the property stands within 36 acres of grounds within its own private valley with the land sweeping down through the valley. Comprising of Woodland, Dartmoor Pasture Land, Paddocks and Formal Gardens, being divided by traditional stone walls and enjoying some stunning views across the open moorland. It also has direct moorland access from the hotel with the East Dart River flowing through the grounds. There are formal terraced Garden Areas surrounding the property, an elevated Decked Area and adjoining Sun Terrace, Customer Car Parking Areas and a large Barn. As with the majority of business premises within Dartmoor National Park, Lydgate House is subject to the favourable terms of a renewable Duchy of Cornwall Lease.   

SITUATION
Lydgate House occupies a secluded position at the end of its own private driveway, in the heart of Dartmoor National Park. Situated in Postbridge, one of the most popular villages on Dartmoor and a honey pot tourist location renowned for its ancient Clapper Bridge, which is a popular year round visitor attraction. The central Dartmoor location makes it an excellent base to explore Dartmoor National Park and the village is served by a post office, pub and visitor attraction centre. Postbridge is located 8 miles from Moretonhampstead, 12 miles from Tavistock, 6 miles from Princetown, 7 miles from Chagford and 6 miles from Widecombe-in-the-Moor. Tourists flock to Dartmoor throughout the year with many famous historic features, attractions and its stunning wild open moorlands, river valleys, moorland scenery and wildlife. 

INTERNAL DETAILS
Entrance door to front into Entrance Porch and Boot Room Area with stone flooring into Reception Hallway an attractive welcoming reception area with stairs to first floor, reception desk and feature fireplace. Office. Guest Lounge and Bar an attractive room being well presented with open aspect and superb views over the valley and river. Comfy sofas, armchairs and window seating for around 16 guests, free standing woodburner and Bar Servery. Conservatory Restaurant/Breakfast Room an attractive dining room with triple aspect and superb views, tiled flooring, range of free standing tables and chairs comfortably seating 28 guests. Double doors to side opening out onto Decked Area and Patio. Ante Room a comfortable seating area with arm chairs and sofas. Catering Kitchen well fitted with a range of quality modern base and wall mounted kitchen units and extensive complementary work surfaces, Altro flooring, part tiled walls, 7 burner gas hob, 3 electric ovens,  extraction unit, microwave oven, twin deep bowl stainless steel sink unit, table top deep fat fryer through into Preparation Kitchen with Altro flooring, part tiled walls, fitted with a range of quality modern base units and complementary worksurfaces, central island, 2 upright fridges, 1 upright freezer, commercial dishwasher, domestic dishwasher, 2 stainless steel sink units, open wall shelving, hot water still, undercounter fridge and washing machine. Utility Area with Altro flooring, door to rear, tumble dryer, chest freezer and walk in pantry. Cellar under the main property housing boiler and used for additional storage.

LETTING ACCOMMODATION
The business offers 7 individually designed and furnished quality ensuite letting bedrooms. Each of the bedrooms offers moorland views and are beautifully presented with remote control colour televisions, alarm clock radio, hair dryer and tea/coffee making facilities. The bedrooms are all well proportioned and briefly comprise: - Dipper - a double bedroom on the ground floor with separate seating area and an Ensuite Bathroom. Buzzard - A kingsize double bedroom with seating area and Ensuite Bathroom with roll top bath. Heron - a double bedroom with seating area, and Ensuite Bathroom with roll topped bath. House Martin - a small double bedroom (let as a single room) with an Ensuite Shower Room. King Fisher - a double bedroom with an Ensuite Shower Room. Separate Guest Bathroom. Laundry Room. Wren - a single room with an Ensuite Shower Room. Wagtail - a family room with a double bed and a separate seating area with a double sofa bed and an Ensuite Bathroom.

OWNER'S ACCOMMODATION
Interlinked with the main building is the well-appointed owner's accommodation which is an impressively converted barn. The family sized owner's accommodation briefly comprises; Lounge with vaulted ceiling, free standing woodburning stove, French doors to outside, open plan through to Kitchen/Diner another impressive quality room with double French doors to outside, a range of modern fitted base and wall mounted kitchen units with complementary work surfaces, stainless steel sink unit, integrated hob, oven, washing machine, dishwasher and fridge. Family Bathroom finished to a high specification with bath and separate walk in power shower. Bedroom 1 a good sized double bedroom with Ensuite Bathroom. Bedroom 2 a good sized double bedroom. Bedroom 3 a large single bedroom. 

SWALLOW COTTAGE
Swallow Cottage is a 3 Bedroom Holiday Cottage/Barn Conversion with its own separate access and private seating areas. This pretty stone cottage was impressively converted in 2013 and is a popular holiday let that is fully fitted and equipped. It briefly comprises: - Open Plan Lounge/Kitchen/Diner with a fully fitted open plan kitchen diner with integrated appliances, vaulted ceilings and ample room for a dining table seating 6. The Lounge has a woodburner and a wall mounted flat screen television. Two sets of French doors with views over the valley. There are 2 Double/Twin Bedrooms downstairs with a Family Bathroom and a further Double Bedroom with Ensuite on the first floor.    
Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

EXTERNAL DETAILS
The property is set in its own private valley and totals 36 Acres of Dartmoor Pasture Land, Woodland and Paddocks divided by traditional stone walling and enjoying some stunning views across the open moorland and the East Dart River. The property is approached via a wooded lane and occupies a stunning private location in the heart of Dartmoor National Park. The lane leads to a Parking and turning area with car parking areas to the front of the hotel and also for Swallow Cottage. Formal Terraced Gardens surround the hotel as well as a Decked Area, large Sun Terrace, Owner's Private Gardens and Patio Area. To the rear of the property is a large Barn with potential equestrian uses. There is also direct moorland access from the hotel and of particular note is that the East Dart River flows through the valley and abuts the paddocks. 

THE BUSINESS
Lydgate House is presented in first class order throughout and is a high quality country house hotel, which now trades on a bed and breakfast only basis and boasts a magnificent setting in a much sought after location. A well established and successful business, which has been run by our clients for the last 8 years, Lydgate House features in several guides and  websites, and boasts impressive occupancy levels and strong repeat trade. Our clients choose to run the business to fit in with their own lifestyle and consequently they choose to trade for between 10 and 11 months of the year, being closed in January and at various times throughout the year to fit in with their personal requirements. They advise us that there is plenty of untapped potential throughout all aspects of the business particularly by reintroducing evening meals, further advertising and marketing initiatives, year round trading and offering cream teas, which was a great success for their predecessors. There is also the potential, if so desired, to develop a non resident dining trade. Swallow Cottage provides a further boost to income and is currently managed by Toad Hall Cottages and achieves up to £1,124 per week. Both the hotel and cottage benefit from numerous excellent reviews on Trip Advisor and are available to book online through many accommodation booking portals. The business is run by our clients with the assistance of 1 part time member of staff and the business benefits from its own website www.lydgatehouse.co.uk which provides further background information and tariffs. Manageable businesses in such a sought after area are always in short supply, but those that provide such an enviable lifestyle and yet still have genuine potential for further growth to the business and profit levels such as Lydgate House, are very rare indeed. Viewing is essential in order to fully appreciate all that this stunning property has to offer. The business shows an impressive six figure turnover and healthy net profits and full accounting information can be provided, following a viewing. 

SERVICES
Mains electricity, LPG for heating and cooking and a private bore hole for water. There is private drainage via a septic tank. 

TENURE
As with the majority of business premises within Dartmoor National Park, Lydgate House is held on a valuable Duchy of Cornwall protected Lease for 35 years from 2005. The current rent is £12,400 per annum with rent reviews every 5 years. Please contact us for further details regarding the lease. 

FLOOR PLANS
Available upon request. 

EPC
F-32

VIEWINGS
Strictly by appointment with Stonesmith, Tel: 01392 201262 or Email: info@stonesmith.co.uk. You are recommended to contact us before visiting the property and we can then confirm whether or not it is still available.
 

Listing Details
Leasehold Price: £599,950
Tenure: Leasehold
Location: Postbridge, Devon
Sector: Bed And Breakfast, Hotels
Financials
Annual Turnover: Available upon request
Annual Net Profit: Available upon request
Key Features
  • With Accommodation
  • Attractive Business
  • Prime Location
  • Accounts Available
Contact Agent
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Advert Reference: 5997 / Rightbiz
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