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Pearsall House, a vacant laboratory on the western shore of Lake Windermere, has been brought to market as a hotel development opportunity with an asking price of £2.5m.
Originally built in 1973, the property has formerly served as a laboratory for the Fresh Water Biological Association.
However, the current owner, who is an experienced hotelier looking to retire, secured planning permission to convert the building into a boutique hotel. The approved plans include rooms with lake views and a new pitched slate roof to match local architecture.
Initial construction work has commenced at the site. The development represents the first new hotel project on the shores of Lake Windermere in the 21st Century.
According to the unnamed owner, the sale allows a purchaser to complete the internal development and landscaping to their own specifications.
The property also benefits from its location in the heart of the Lake District National Park, a high-demand area for tourism.
Graham Wilkinson, senior business agent at Christie and Co, who is handling the sale, said: “We are delighted to bring to the market this unique hotel development opportunity on the shores of Lake Windermere. With planning permission approved and the first phase of the development completed, it is a fantastic opportunity for a developer or operator to create something new.
“With significant investment being made in the hospitality sector across the Lake District and Cumbria, we anticipate that there will be interest from a range of potential purchasers looking to take advantage of the chance to create the first new waterfront hotel on Lake Windermere in over 100 years.”
The unnamed owner added: “I have known the Windermere area since visiting as a child, and I have always been aware of the beautiful location of Pearsall House. In recent years, as a hotel and property developer, I came to view Pearsall House as a once-in-a-lifetime opportunity to create a bespoke, luxury hotel on the shores of Lake Windermere.”
