13 bedroom house

Stunningly located moorland hotel with owner's accommodation and holiday cottage, all set in 35.6 acres of riverside grounds. Superb Lifestyle Opportunity, Remarkably Scenic Setting. Late-Victorian property currently 7 En-suite rooms, 3-bed Holiday Cottage, Owner's Accommodation. Approx. 6,400sq.ft. Duchy Leasehold. EPC Band: F

Situation - Lydgate House sits in a private valley amongst the rolling hills of Dartmoor, occupying a glorious position surrounded by 35.6 acres of its own moorland ground. The East Dart river runs just below the house, adding to the beautifully scenic outlook, which is visible from almost every part of the property, and making the area a haven for lovers of wildlfe. The 7-bedroom hotel has separate owner’s accommodation and a further 3-bedroom holiday cottage, offering a simply wonderful lifestyle opportunity with a healthy income and opportunities for further growth.
 
Postbridge is a hamlet in the very heart of Dartmoor, popular with visitors, walkers and explorers of the rugged landscape. Famous for its 13th Century clapper bridge, Postbridge is 5 miles from Princetown and 11 miles from Tavistock, which is a thriving market town forming part of a designated World Heritage Site, rich in history and tradition dating back to the 10th century. Today, the town offers a superb range of shopping, recreational and educational facilities, including the sought-after private and independent school, Mount Kelly.

The House - Built in the late 1800s, the bright and comfortable accommodation of Lydgate House is presented in good decorative order with a warm and welcoming feel, having received significant investment from the current owners over the past decade. There are currently 7 well-proportioned en-suite letting rooms, all named after native birds and six of which are on the first floor. On the ground floor are an entrance hall, office, guests' lounge and sitting room, the conservatory/dining room, kitchen and guests' WCs. Adjoining the house is a separate 3-bedroom annexe, presently used as self-contained owner's accommodation but which could also be let separately. This beautiful barn conversion comprises 3 double bedrooms, 2 bathrooms, a kitchen/dining room and an attractive, vaulted sitting room with a log-burning stove and patio doors leading to an enclosed garden and terrace.

Swallow Cottage - Adjoining the Annexe is Swallow Barn, another charming barn conversion with similarly proportioned accommodation and its own access. Successfully let on a holiday basis at present, the cottage is fully self-contained, complete to a very comfortable contemporary standard and equipped with integral kitchen appliances, a log burner two modern bathrooms.

The Grounds - Lydgate House is surrounded by 35.6 acres of stunningly attractive, natural moorland and woodland ground, divided into various paddocks and areas for walking and enjoyment. The annexe and Cottage both benefit from their own private garden areas. Located behind the main house is a large agricultural barn which could offer additional opportunities, particularly of an equestrian nature. Of particular note is the East Dart River which runs through the site. A wooden footbridge allows access to the far side of the river.

The Business - Lydgate House is a very popular hotel operated February to December on a Bed & breakfast basis at present. The kitchen is complete with a good blend of commercial and residential equipment and appliances, well-suited to the scale of operations. Naturally, the property is extremely well-positioned for guests seeking to enjoy the huge number of pursuits that Dartmoor National Park and the surrounding West Country landscape has to offer. The current owners have established an excellent reputation and have formed strong links within the local community. Repeat trade is strong and guests review their stays at an average of 4.8/5 stars on Google and 4.5/5 on Trip Advisor (as at January 2020). The Hotel room rates range from £47 to £115 per night, according to room size, and Swallow Barn is let at weekly rates between £454 and £1,124. Whilst a healthy net profit is currently achieved, opportunities to build on the existing business exist, including the option to offer dinner, or to open year-round. Letting of the annexe and having owner's accommodation within the hotel is also a possibility. Interested parties are encouraged to view the Hotel's website, Three years' P&L accounts are available for inspection following a viewing of the premises.
 
The current Rateable Value is £12,300 (by internet enquiry with the VOA). Council Tax Band A for the owner's accommodation. Fixtures and fittings to be included as per our clients' inventory. Stock to be sold at valuation on completion.

Services - Mains electricity, LPG-fired cooking and heating, private water supply (bore hole), private drainage (septic tank).

Tenure - As with many properties in the heart of Dartmoor, this property is being offered with a Duchy of Cornwall Lease running for a term of 35 years from 29th September 2005 (Over 19 years remaining). The rent is £12,400 per annum exclusive. Duchy Leases are generally not mortgageable. For further details on the terms of the lease, please contact Stags.

Viewing - Strictly by appointment with the Vendors' Agents, Stags.

Directions - From Tavistock, proceed east over the moors on the B3357 to Two Bridges and turn left onto the B3212, signposted for Postbridge. Upon reaching the hamlet, proceed past the Tourist Information Centre and over the bridge, then after 50 yards turn right, as signposted, towards the hotel. Follow the road for 0.2 miles where you will find the property.



Marketed by: Stags, Tavistock