THE price of an Exmoor mansion which has hosted sex parties for the past year has been slashed by £250,000 after it failed to reach its reserve at auction.

The guide price of Croydon Hall, near Rodhuish, has been reduced from £1.5 million by agents Carter Jonas. It has been empty since the private members’ sex club Exclusively Silks was closed by owner Allen McCloud in January.

The agents have told prospective buyers: “The property has been in the local, regional and national press due to its colourful history running specialised functions for adult parties.”

A Carter Jonas spokesman said that the reduced price was expected to attract a strong interest among prospective buyers and Croydon Hall would make an ideal wedding venue.