An Ivybridge hotel has sold at auction for £296,000 after attracting strong interest from bidders.

The Sportsmans Inn, on Exeter Road, sold for £296,000 when Clive Emson Auctioneers' July online auction concluded on July 23 – exceeding its freehold guide price of £275,000.

The sale follows the retirement of long-time owners Bill and Donna Hibbert, who had previously announced they were stepping away from the hospitality industry after many years running the business.

The substantial two-storey property, which occupies a 0.15-hectare (0.38-acre) site within Ivybridge, was marketed jointly by Clive Emson Auctioneers and Bettesworths.

It includes 14 bedrooms, a bar, restaurant, reception area, games room, commercial kitchen, office, store rooms, manager's flat, laundry room, a large car park and outside seating area.

Auction appraiser James Lofthouse said the final sale price reflected the opportunities the property offered.

He said: "This is a substantial two-storey hotel just on the edge of the town of Ivybridge.

"It achieved a sale price considerably above its freehold guide of £275,000 plus, and offers various options to the new owner.

"There is clear potential for the owner to take on the hotel and continue operating it in its current guise, or they may have other uses in mind, subject to the necessary consents."

Locals online have expressed hope that the premises will remain a hotel or B&B.

One person wrote: “There is nowhere to stay in Ivybridge so a hotel would be good.”

Another said they hoped the new owner is someone “who will make it enhance Ivybridge.”

A third person commented: “Good price, though needs a lot of work. Wouldn’t be surprised to see it changed to flats, which would be a shame.”

The identity of the new owner has not been disclosed, and it is not yet known what plans they have for the property.