A 37-BEDROOM coastal hotel with a leisure complex and 20 acres of gardens could be yours for just £500,000.

The Penrallt Hotel, which only costs a little more than the average London home, is being billed as the ideal property to escape the rat race.

It is also considerably cheaper than the derelict end-of-terrace home in capital which was sold earlier this week for £554,000.

The hotel, in Aberporth, Pembrokeshire, Wales, which was built in the early 1900s, is set down a tree-lined drive and boasts original features including stained glass windows, balconies and imposing fireplaces.

There is also a bar and restaurant which overlook the terrace and gardens and a number of bedrooms have sea views.

The hotels has 26 bedrooms, but there are also 11 cottage rooms and a detached leisure club.

Estate agency Colliers International is looking for a buyer for the half-million pound hotel, which is currently empty.

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Peter Brunt, hotels director at Colliers International, said: "This is an incredible opportunity to buy an Edwardian hotel in set in nearly 20 landscaped acres on a long leasehold of 125 years for the typical price of a leasehold one bedroom flat in a central London location such as Kensington, Chelsea or Notting Hill.

"Penrallt is in receivership and is currently closed and the swimming pool drained, but the bedrooms and public areas are still in great condition, and there is huge potential for a good operator to make their mark on it and create a vibrant, successful business here.

"It could represent a chance to escape the rat race for someone with hospitality experience living in London who has dreams running their own hotel, which they thought would never be possible to realise because they were unable to obtain the considerable capital required."

The hotel has undergone a very comprehensive refurbishment in recent years and the leisure centre includes one outdoor and two indoor pools, two gyms, a beauty treatment room plus a café bar.

It has a 125-year lease from 2014 and ground rent is set at £6,250 per year.

The holiday town of Cardigan is six miles away while Swansea is 58 miles down the road.


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