THE River Yealm Hotel in Newton Ferrers is back on the market, with a guide price of £1.5 million.

The hotel ceased trading in 2011, and sits on a two acre site, with the hotel building dating back to 1898.

It is now being marketed as a potential development opportunity.

In addition to the hotel, there is a detached accommodation block, providing four two-bedroom ‘harbourside apartments’.

The buildings are set within extensive grounds to the west and north, a significant part of which is woodland.

The property also comprises part of the foreshore on the southern side of Yealm Road.

The site provides stunning south facing views across the River Yealm and Newton Creek.

Nick Jones, director of Savills in Exeter, who is marketing the property said: ‘Newton Ferrers is a popular waterside village located on the banks of the River Yealm estuary and within an Area of Outstanding Natural Beauty.

‘It is worth noting, however, that the property is located within the designated development boundary of the village, where development is acceptable in principle.

‘This opens up the possibility for a number of development options, subject to securing planning permission.

‘We anticipate interest from hoteliers as well as residential developers for this stunning site in a popular yachting location.’