‘FOR Sale’ signs have gone up in the grounds of a landmark 16th Century Devon manor house where past guests include Charles I, William of Orange and Oliver Cromwell.

Teignbridge Council has said it is seeking offers of around £1.5million for the Grade One listed Old Forde House at Newton Abbot.

As well as the historic house, the lucky buyer will get eight acres of grounds with lawns, mature trees, a car park and an extensive list of reputed ghosts and spirits.

The council said the decision to sell had not been easy, but the cost of keeping the old house going had become too high.

The decision to sell came during a review of the council’s assets last year, when Cllr Martin Wrigley (Lib Dem, Dawlish NE) said: ‘It has long been clear that this council is not the best custodian of Old Forde House. We have not used that building to its maximum, and I think somebody else can do that better.’

Cllr Andrew MacGregor (Ind, Bishopsteignton) added: ‘It is unfortunate that the council has no money to invest in Old Forde House, but it has a cost-heavy impact on the council’s finances.

‘We should look at all the options to see what can be done there.’

Old Forde House was bought by Teignbridge in 1978 and has been used for weddings, meetings and office space.

A council statement said: ‘While the decision to sell was not easy, it reflects the council’s commitment to responsible asset and financial management. By selling Old Forde House, the hope is that a new owner will be able to invest in and celebrate this important heritage asset for years to come.’

The building was listed as an Asset of Community Value, meaning the council had to give local groups the first option to buy it, but none came forward.

Property consultants Vickery Holman are marketing Old Forde House, and say it dates from around 1550, and is noted for its fine wood-carving and plasterwork.

The main hall has a notable plaster ceiling depicting sprays of several different flowers and fruits.

The dining room, formerly a library, has a similarly decorated ceiling as does the ‘Chairman’s Parlour’ which also has a fine fireplace.

The Long Room, also known as the Great Chamber, is on the first floor and is one of the best great chambers surviving in the south west.

The house was built with an E-shaped floor plan which may have been in honour of Queen Elizabeth I. The grounds originally included the whole of Decoy, so named because decoys were used while hunting wildfowl there.

On September 15 1625 King Charles I stayed at the house overnight on his way to Plymouth to inspect the fleet and enjoyed dinner in the main hall.

The king knighted the host’s three nephews during his stay.

He returned later and stayed for a further two nights, sleeping in the first floor rooms adjoining the drawing room.

During the English Civil War in January 1646, Forde House gave shelter to Oliver Cromwell and Colonel Fairfax on their way to capture Dartmouth before the second Siege of Exeter.

William of Orange stayed at the house in 1688 on the way to his coronation in London, having landed in Brixham a few days earlier.

It was on this visit that the prince announced his intention to become King of England for the first time. Prince William stayed overnight in the first floor room known ever since as the Orange Room.

Online sources suggest Old Forde House is haunted and is the subject of frequent ghost hunts. Alleged hauntings include the ghostly figure of a woman in a white, flowing gown said to walk the ground floor corridor.

The sounds of children’s laughter have been heard from the upper floors, doors have been reported to slam on their own and council staff have been locked in rooms.

Objects have been known to disappear and reappear in different rooms and disembodied, hushed conversations are frequently reported.

The asking price is available on application from the agents, but the £1.5million has been widely quoted in previous reports on the council’s intention to sell.