The retiring owners of a Lake District hotel are handing their keys over to a neighbour, who has bought the venue.
Glenburn Hotel in Windermere went on the market with a guide price of £1.365 million after Jackie and Peter Baister decided to retire.
The couple have owned the hotel, which also includes self-catering accommodation, for 14 years.
It has been bought, for an undisclosed sum, by their neighbour Youfeng Jiang, of The Woodlands Guesthouse.
The hotel was marketed by commercial real estate specialists Colliers.
Jackie said: “We’ve dedicated our careers to hospitality, working and owning pubs and hotels. After a lifetime of responding to our guests’ needs we’ve decided now is the right time to put ourselves first.”
Peter added: “We’ve always had a good relationship with the team at The Woodlands and wish Youfeng the best of luck with his expanding hospitality portfolio.”
Youfeng, who also owns another hotel in York, said: “Windermere and the Lake District is such a popular location that I’ve been on the lookout to secure another investment in the area and when The Glenburn came onto the market it just made sense to expand our offering with our neighbouring plot. It will definitely make for a smooth transition process.”
Haydn Spedding, of Colliers’ Manchester-based Hotels team, said: “The Glenburn has over the years acquired an enviable reputation in the experienced hands of Peter and Jackie.
“Colliers has already completed a significant number of sales in the Lake District this year, which underlines the continuing confidence in the hospitality industry for this area. This is not only a premier tourist area, but as we can see in this transaction a much sought-after investment destination.”
