Grade II listed boutique hotel acquired by experienced operators after price reduction

A hotel said to be Plymouth’s oldest lodging house has been sold nearly three years after it first went on the market.

The Invicta Hotel, a Grade II listed four-star boutique hotel on The Hoe, was bought in pre-auction sale off a £1.5m guide price by the owners of nearby The Drake Hotel.

It had originally been offered for sale with a £2.25m price tag.

Dating back to 1852, it has been run for the past 20 years by Roy and Betty Martin, who are now retiring. At the time they acquired it, the hotel – which has 23 en suite bedrooms, a restaurant, bar and lounge – held two AA stars.

That was later increased to three stars and, following a £250,000 capital investment, a fourth was added in 2019.

Agents Savills Hotels Capital Markets said investment had gone into enhancing the first-floor bedrooms, restaurant and its self-contained 65-person capacity function room.

With a separate external access and its own bar and cloakrooms, this room operates independently from the hotel, enhancing its functionality without disrupting daily operations, said Savills.

A terrace at the front of the hotel also offered al fresco dining options.

The hotel was designed by architect John Foulston, who was responsible for a number of other notable buildings, including Devonport Guildhall.

Savills Hotels Capital Markets director James Greenslade said: “We are pleased to have facilitated the sale of this well-presented property on behalf of our clients.

“With the current owners retiring, the Invicta Hotel transitions to experienced hoteliers from the local area.

“Given its prime location and potential for further value add opportunities, the hotel is well positioned for continued success under its new ownership.”

The Drake Hotel, which is less than 100m away from the Invicta, has 19 recently refurbished en-suite rooms.