A Lake District hotel has been bought by an expanding hospitality chain.
The New Dungeon Ghyll at Great Langdale, near Ambleside was previously put on the market in 2020 with an asking price of £3 million.
It had been run by the Smith family for 30 years.
RedCat Pub Company has issued a statement to say it had bought the property off-market for an undisclosed sum.
The deal represents the first venture into the Lakes for the private equity backed firm, RedCat Pub Company, which was launched earlier this year.
The sale was brokered by Colliers’ Hotels specialists.
Julian Troup, head of hotels agency at Colliers, who acted for the Smith family, said: “The hospitality sector in the Lake District has been attracting increasing corporate attention, as indicated by this acquisition of the renowned New Dungeon Ghyll hotel by the recently-formed RedCat Pub Company.
“With interest rates remaining low, hotels and pubs in staycation areas such as the Lakes are delivering impressive trading figures and solid returns on investment, and we expect to see continuing corporate and private demand from both overseas and domestic buyers given the growing popularity of UK staycations.”
James Boshier, director of Everard Cole acted for RedCat. He said: “I am delighted that RedCat now have a foothold in the Lake District and am looking forward to working again with Colliers to identify further opportunities throughout the Lakes.”
The three-star New Dungeon Ghyll is on a site of around 12 acres which includes mature gardens and pastures, an extensive outdoor seating area, and a car park.
The traditionally constructed detached stone property beneath a slate roof was originally a farmhouse before being converted in 1832.
It has 23 en suite bedrooms, a restaurant, bars and lounges.
