A local hotelier has snapped up the Abbey hotel in Tintern, Monmouthshire, ahead of a planned auction of the property.
The Abbey becomes the third hotel in the new owner's portfolio, joining the Brecon Castle hotel which he bought in the same week off a guide price of £1m.
The three-star hotel, whose history can be traced by to 1835, has an elevated position on the A466 in the heart of the Wye Valley, an Area of Outstanding Natural Beauty.
It is opposite Tintern Abbey, the Cistercian retreat dating back to 1131, and within easy reach of Monmouth and Ross-on-Wye, along with local attractions such as the Forest of Dean, Offas Dyke, Symonds Yat and Chepstow's racecourse and castle.
The hotel provides 23 en-suite bedrooms to sleep 39 guests, along with three staff bedrooms in the hotel and a detached two-double-bedroom cottage for the owners.
Facilities include a 50-seat restaurant, arranged over three split-level areas; a 30-seat bar with exposed wooden beams; a 25-seat residents'lounge; and a 130-capacity function room that can be splits into two smaller rooms.
The 18 acres of mostly wooded grounds includes a patio area with picnic tables and car and coach parking spaces.
The Cardiff office of Colliers Robert Barry sold the freehold off a guide price of £750,000 on behalf of the joint administrators of Geoffrey Martin & Co. The hotel was under interim management by Legacy Hotels and Resorts.
By Angela Frewin