Historic mixed-use residential and holiday let property for sale
Specialist business property advisor, Christie & Co has brought to market Eastnor House, an historic, mixed-use property which offers a collection of eleven modern holiday and residential lets.
The property is situated in the honeypot market town of Ledbury, just a stone's throw from the main high street which offers an abundance of tea rooms, cafes and boutique stores.
Ledbury lies between Hereford and the Malvern Hills and is highly accessible with great road and rail transport links to key nearby cities such as Hereford, Worcester, Birmingham, Oxford, and London Paddington. The town is steeped in history, with cobbled medieval streets and famous timber framed buildings, notably the 17th-Century, Grade 1 listed Market Hall. Eastnor Castle is also less than 2.5 miles from the property.
Eastnor House, the principal building is a considerable three-story end of terrace property comprising three one-bedroom residential flats situated across three floors, which are held on long term AST agreements. The ground floor also incorporates a recently refurbished, self-contained one-bedroom holiday apartment, named 'Bishop's'.
Adjoining the main house to the rear, The Courtyard features five self-contained holiday cottages, which have recently been refurbished to an excellent standard. 'Fever-Tree', 'Bumbu', and 'Rubi Roy' consists of three one-bedroom cottages with a double bedroom, kitchen, flat-screen TV, WiFi, and other modern amenities. The remaining cottages named 'The Drying House' and 'The Barn' offer two en-suite double bedrooms on the ground floor, with a kitchen and various other amenities on the first floor.
The sale of Eastnor House presents a rare opportunity to acquire a profitable turnkey business, and a prime piece of real estate, in the centre of an affluent and sought-after market town. The current owner has recently invested a considerable amount in refurbishing all eleven units, meaning little, if any further investment is required. In addition, the sale offers the chance for an investor to capitalise upon the continued growth of the staycation market in the UK, fuelled by COVID-19 and international travel restrictions.
They comment, “It has been my privilege to develop these wonderful historic buildings to secure their future and create a successful business that will continue to thrive. Ledbury is a fabulous hidden gem of a market town, which offers so much to visitors and residents alike. I know whoever takes over the properties and the business will not be disappointed.”
Joshua Sullivan, Senior Business Agent in Christie & Co’s Hospitality team is handling the sale and adds, “Eastnor House is a superb product which has been comprehensively refurbished to a superior standard and commands an enviable position in the centre of Ledbury. The property offers a unique blend of commercial and residential income that would suit a variety of investors seeking to safeguard their capital from the turbulent market conditions. The business has performed robustly with future bookings confirmed for later in the year, and this will undoubtedly give comfort to prospective purchasers.”
Eastnor House is currently on the market with a guide price of OIRO £1,950,000 for the freehold.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Joshua Sullivan, Senior Business Agent – Hospitality
P: +44 (0) 121 456 1222
E: joshua.sullivan@christie.com
