The Inn Collection Group have bolstered their pubs with rooms portfolio with the purchase of landmark Cumbrian coaching inn, The Swan in Grasmere.
The deal brings the group’s portfolio to 13, following the northern pubco’s purchase of The Black Swan, Helmsley earlier this year as the group remains on target to double its estate of freehold pubs within the next two years.
The historic 38-bedroom The Swan in the heart of The Lake District will continue trading before the group begins a major redevelopment of the site, which will reopen under its ‘eat, drink, sleep and explore’ pubs with rooms brand.
The Inn Collection Group’s managing director Sean Donkin said: “We are absolutely thrilled to have added this superb venue to our collection. We’re looking forward to investing significant capital into realising the full potential of this phenomenal site for the community of Grasmere and visitors to the Lake District alike to eat, drink, sleep and explore from.
“We have a proven track record in repurposing and enhancing historic inns and we’re looking forward to turning our attention to The Swan as we continue to widen our customer base, group presence and visibility across the north of England.”
The Swan is The Inn Collection Group’s fourth site in The Lake District. The group operates award-winning freehold pubs with rooms, The Ambleside Inn was recently re-opened following major refurbishment and The Coniston Inn is set to re-open at the end of April.
Elsewhere, the group’s portfolio includes sites in Northumberland, County Durham, Sunderland and Yorkshire.
The Alchemy-backed The Inn Collection Group – which is supported through banking by OakNorth – will continue to roll out its strategic buy and build expansion across the north of England.
The Inn Collection Group were advised by Newcastle-based law firm Ward Hadaway on the transactions, with Jones Lang Lasalle on pre-acquisition diligence, alongside Clive Owen LLP.