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.

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