The asking price for the historic The King’s Head Hotel has been dropped by £450,000 in a bid to attract a buyer.

The Grade II listed, which overlooks the picturesque Stone Gill river in Ravenstonedale, first came on the market for £675,000 in July last year.

Now, specialist business property adviser, Christie & Co has reduced the asking price to £450,000 in the hope of attracting a buyer.

Christie & Co confirmed that the asking price had been dropped incrementally over the last 11 months, but the new value – £225,000 less than the original – was the first official announcement since it hit the market. 

The traditional, two-storey detached riverside inn had undergone refurbishment shortly before it was put up for sale by the Metcalfe-Gibson family, which has owned the property since 1892.

It has six en suite bedrooms and the ground floor has a 32-cover lounge and bar with a feature stone fireplace and a 50-cover restaurant with a beamed ceiling, which overlooks the river.

There is a private beer garden and guest car parking.

The property also includes a two-bedroom apartment suitable for use as accommodation for a manager or owner-operator.

Keith Stringer, director at Christie & Co who is handling the sale, comments, “The reduced asking price presents potential purchasers with a fantastic opportunity to acquire a beautiful, historic inn set within a picturesque Lakeland setting. 

“Offering plenty of scope to increase trade, we expect the business’ revised pricing to be well received by the market.”