Cockermouth’s Trout Hotel has been sold to a prominent West Cumbrian businessman.
The four star hotel has been sold to Bill Dobie, who owns Workington’s Washington Central Hotel with his family.
It had an asking price of £4.85 million – although the sale was for an undisclosed sum.
It was handled by real estate advisers Colliers, acting on behalf of a private owner based in the North East of England.
The 49-bedroom hotel, on Crown Street, recently underwent a £3 million refurbishment. Colliers said it achieved a net annual revenue of around £2.6m in 2019.
It has a lounge bar, Derwent Restaurant, Terrace Bistro and Wordsworth Suite and fronts onto the river.
The deal was brokered by Julian Troup, head of UK hotels agency at Colliers, said: “Yet another example of us being able to attract significant interest in a Cumbrian hotel opportunity, yet in a highly confidential fashion.
“The sale reflected continuing strong demand for quality hotel accommodation from both overseas and domestic buyers, with competing interest coming from a cluster of buyers. Despite 2020 being a challenging year, this is the 38th completed Cumbrian hotel sale Colliers has exclusively handled since the beginning of last year.”
Since the beginning of 2021 Colliers has sold in excess of 120 UK hotels and associated businesses to a diverse range of buyers.
Ashraf Ali of Square One Law Solicitors based in Newcastle advised the selling shareholders.
