A top Tenby hotel is on the market with a price tag of £1 million-plus.

The 40-bedroomed Fourcroft Hotel - which has been owned by the same family for 70 years - is part of a Listed Georgian terrace on The Croft, with views of the harbour and Carmarthen Bay.

The Fourcroft was due to enter a new era as the venue of the first Hotel School for Wales, but in 2014 plans were scuppered for the multi-million pound project.

The scheme, being put forward by the Tenby Development Trust, proposed to train around 90 students at one time in the hotel as part of a two-year university degree course. The plan was shelved after Welsh universities said they “were unable to accommodate the project in their current strategic plans”.

The Fourcroft was originally bought in 1946 by Helen and Ossie Morgan, with one of their daughters, Gly, and her husband Peter Osborne taking over in 1964. It passed to a third generation of the family with Chris and Kath Osborne becoming hoteliers in 1992.

The Fourcroft’s sale is being handled by Colliers International, which announced this week that the property “is being offered to investors for offers over £1 million”.

Collier’s International hotels director, Peter Brunt, said that the Four croft “has arguably the best location for a hotel in town.

He added: “Tenby has always been a favourite resort for visitors to Pembrokeshire and this hotel, with its fabulous views and beautiful private gardens leading down to the beach, is a very well-established destination for Wales, the Midlands and further afield.

“With major employers in the area, the hotel also offers a well-established commercial trade.”