Porlock Vale House, a former hotel and Olympic equestrian training ground in Porlock Weir, Somerset, has been bought for £1.95m by wealth management specialist Mark Pendarves.
Pendarves bought the property, which was originally put on the market for £2m in April 2015, in a deal brokered by sector specialists Colliers International.
Porlock Vale House was built in 1904 and was run as a hotel with a £500,000 turnover until it became a self-catering property in 2008.
The site consists of 16 bedrooms, a lounge, dining and games room, a wood-panelled bar and wine store. The 23 acres of land also includes a three-bedroom home, converted from Edwardian stable and detached from the main building.
Hotels director at Colliers International, Peter Brunt, said: "Porlock Vale House is a truly wonderful property. Overlooking the dramatic and unspoilt Somerset coast, Porlock Vale House has enormous potential for the new owners, who are seeking to combine a healthy business with a fabulous lifestyle.
"Porlock Vale is renowned in equestrian circles as the training ground for the 1952 British Olympic equestrian team, who went on to win gold in Helsinki. For the next 35 years, it was one of the preeminent equestrian training centres in Britain.
"It's been a successful self-catering complex for eight years or so and Mark and wife Liz have scope to run it as a hotel, a top-class wedding venue or a classy bed and breakfast. There is a clear opportunity to step up the business in whatever direction the new owners choose."
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