AGENTS are hoping to attract a buyer for the former luxury Penarth hotel Holm House - after the asking price was dropped by £1 million.
The boutique hotel and spa, which closed in May due to 'adverse trading conditions', first went up for sale in July with a price tag of £2.5 million.
But the price has now been dropped and a closing date of noon on Friday, December 7, has been set for sealed bids to be submitted 'in the region of £1.5 million'.
The 12 bedroom property is being sold through the Bristol office of business agents Christie + Co.
Jonathan Hill, who is handling the sale, said: "Holm House is a beautiful building with the potential to be a thriving business.
"Its location and high quality interiors make it attractive to hoteliers looking to extend their portfolios. We anticipate a great deal of interest."
Holm House, built in the 1920s, boasts a bar, restaurant, meeting room, spa, indoor pool, jacuzzi and two treatment rooms. It also has a two-bedroom owner's house with gardens.
Famous guests have included Kylie Minogue, Gary Lineker, Sherlock actor Benedict Cumberbatch, and Sir Ian Botham.
For further details visit www.christie.com/