Offering enormous potential for expansion, The Habit at 46-48 Fore Street has 11 immaculately presented letting rooms along with an additional nine awaiting refurbishment.
In addition, a planning application has been submitted to develop eight flats in another part of the building – which could be retained or sold off.
Originally known as the Crescent House Hotel, it opened in 1863 and contains many original features in addition to its handsome façade overlooking the landmark Capstone Hill and sea front.
Although The Habit is currently closed, Ed Jefferson from Colliers International’s Hotels team is hoping to attract new owners to take the business forward.
He said: “Ilfracombe is a popular North Devon resort which attracts family visitors as well as the ‘surf set’ which is drawn by the Atlantic rollers at nearby Woolacombe, Croyde and Saunton Sands. It offers some of the finest coastal scenery in the country, along with its own harbour, sandy beach and hidden coves.
“A short stroll from Ilfracombe’s attractive harbour, galleries and restaurants, The Habit is situated on higher ground at the junction of Fore Street and the gently curving Sommers Crescent – which leads down towards the sea front and harbour.
“It has an excellent bar, restaurant and function facilities along with useful commercial kitchen. There is also a gym and a brace of treatment rooms which have proved very popular in the past.
“The hotel also includes a lovely two-bedroom flat for the owners with large living room, along with a good quality one bedroom flat on the lower ground floor for staff.”
Ed Jefferson added that the key to the future success of the hotel would be to bring the remaining nine letting rooms – presently in a shell state – up to the same level as the 11 refurbished rooms.
He said: “There is also the opportunity to continue with the conversion of eight flats in another part of the building. A planning application has already been submitted to North Devon Council for one one-bedroom flat and seven two-bedroom flats. Our client may consider selling the flats separately to the hotel.
“With its split level conservatory, ballroom turned bar, stained glass windows and wonderful staircases, The Habit has plenty of potential to be returned to splendour.
Present owner Clare Newman said: “People always ask why we called it The Habit - I thought it was an awesome name - short, snappy and great to market with!”