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Lake District Hotels has bought the Patterdale Hotel in the Lake District for an undisclosed sum after the site was marketed at a guide price of around £3.95m.
The hotel group’s existing portfolio of six family-owned Lake District properties includes Lodore Falls Hotel and Spa, Derwentwater and the four-star Inn on the Lake.
Located in the village of Patterdale, within the UNESCO-designated Lake District National Park, the stone-built Patterdale Hotel dates back to 1626.
Situated on around six acres, it consists of 60 en-suite letting bedrooms, staff accommodation and public areas, including the Place Fell Inn lounge bar, an interconnecting snug, the West Lounge with total seating of around 40 and a 66-cover restaurant.
The sellers, Choice Hotels (Blackpool), also own four other hotels, including the Keswick Country House Hotel, a Victorian-style 73-bedroom three-star property located close to Keswick town centre.
The Keswick is also being marketed by Colliers, following the directors’ decision to redirect their focus on their initial Lancashire coast portfolio.
Choice Hotels said: “It has been a privilege to steward the Patterdale Hotel for more than 25 years, investing significantly in refurbishments and upgrades. The hotel enjoys a loyal customer base, and we wish the new owners every success as they take the business into an exciting new chapter, building on this solid foundation and capitalising on the hotel’s unique setting.”
Dani Hope, director of Lake District Hotels Ltd, added: “We are excited to add the Patterdale Hotel to our collection of Lakeland hotels. We have extensive plans to upgrade the accommodation and to trade the hotel alongside our other properties in the north Lakes.”
Julian Troup, head of Colliers’ hotels agency team, said: “The Patterdale Hotel unsurprisingly generated significant interest from a diverse range of interested parties. The opportunity offered an enviable location, extensive accommodation, and solid trading performance make it a highly attractive proposition. This transaction is further evidence of the Lake District’s continued ability to attract strong domestic and overseas investment.”
