Stonesmith of Exeter has slashed £26,000 off the price of the Green Door restaurant in East Devon to achieve a quick sale for the owners, who plan to retire shortly.

It is now offering the freehold on the property for £249,000, down from the originally-advertised price of £275,000.

The former cottage in the affluent village of Woodbury has operated as a restaurant for more than 10 years, nine of them under the current owners.

The ground-floor restaurant is made up of a lounge bar, a conservatory with lounge seating and a 20-seat dining room. Stonesmith says there is potential to add another four to six additional seats by incorporating a private lounge.

To date, the restaurant has opened in the evenings only seven days a week, serving reasonably-priced home-made food.

“An opportunity therefore exists for hands-on owners to develop the business by extending the trading hours and increasing the seating capacity,” said Stonesmith.

The owners’ accommodation, on the first floor of the building, comprises a lounge, two bedrooms and a bathroom.

New owners could seek planning permission to covert a partially-boarded roof space into a storage area or extra accommodation.

The rear of the restaurant has two courtyards which give access to customer toilets, a store with a freezer and plumbing for a washing machine.

The property has benefited from on-going refurbishment, which has included the recent replacement of all windows, and the installation of a new heating boiler and oil tank.