An undisclosed deal has been agreed to take over a prime landmark venue on the shores of Windermere.
The Inn Collection Group has taken on The Wateredge Inn in Ambleside, which has direct lake access, a private jetty and a large outdoor seating area.
The deal for the 38-bedroom site was finalised yesterday, with the site becoming the group’s third venue in Ambleside and seventh across the Lake District.
“The Wateredge Inn is a magnificent addition to our portfolio,” said managing director Sean Donkin.
“We are excited to have brought this extraordinary venue into our collection as our group continues to earn its stripes for its outstanding pubs with rooms in the very best locations across the north of England.
“In the most challenging of times for the hospitality sector, it’s a real boost to have good news like this to share as the trade looks ahead to reopening in line with lockdown restrictions easing and we prepare for a predicted staycation boom fuelled by COVID uncertainties about overseas travel and Brexit.
“Our priority is identifying and sourcing remarkable venues with their own USPs. With its lakeside setting and close proximity to Ambleside, The Wateredge Inn is matchless and will be a stunning new addition to our eat, drink, sleep and explore collection.”
The acquisition of The Wateredge Inn was supported by strong working partnerships with Colliers International who acted on behalf of the vendors and coordinated sale negotiations.
Julian Troup, head of hotels agency at Colliers International said: “The Wateredge Inn is probably the best-located inn in the region, enjoying an outstanding lakeside position at Waterhead Bay and on the fringe of Ambleside and we received keen competitive interest after being instructed to go confidentially to the market and approach a target list of active buyers.”
The Wateredge Inn will reopen for trading in line with planned lockdown restrictions lifting for indoor hospitality venues on May 17.
The Inn Collection Group’s Cumbrian portfolio includes Ambleside sites The Ambleside Inn and The Temperance Inn (formerly Churchills Inn) as well as The Angel Inn at Bowness on Windermere; The Coniston Inn at Coniston; The Swan at Grasmere and The Pheasant at Bassenthwaite.
The Inn Collection Group were advised by Newcastle-based law firm Wardhadaway and Silverstone on pre-acquisition diligence
