The asking price for the Manor hotel near Bicester, which has gone into administration since being brought to market six months ago, has been reduced to £4.8m.
Simon Thomas and Tom Straw of Moorfields Advisory were appointed as joint administrators of the Grade*-listed property in Weston-on-the-Green, Oxfordshire, on 14 October. The 32-bedroom hotel was originally offered for sale in June with a price tag of £5.6m.
Acquired in 2012 by entrepreneur and property developer Paul Oberschneider who appointed Complete Hospitality as the operator, the hotel remains open under the management of the administrators.
The hotel, which is set within a 12-acre estate, partially dates back to the 11th century and was converted to a hotel in 1940. Key features include the 46-cover Baron's Hall restaurant, a Minstrels' Gallery and Bertie's bar.
Peter Brunt, hotels director with Colliers International, which is marketing the property, said: "The Manor hotel occupies an excellent location, being close to a number of key tourist and business centres.
"The sense of history and character is palpable, from offering a reputed hiding place for Prince Rupert during the final years of the English Civil War to its resident ghost, Mad Maude."