A Cumbrian hotel has been sold for over £2.4 million.
Shap Wells Hotel, on Shap, near Penrith has been sold off a guide price of £2,495,000 to a buyer based in Yorkshire, in a deal arranged by Colliers’ specialist Hotels team.
The buyer already owns a number of hotels in Yorkshire and the Northeast and is planning to invest in and continue running the well-known hotel.
The 108-bedroom hotel is set minutes from Junction 39 of the M6 and the A6 and stands within over 20 acres of grounds and has a rich history, having opened around 1833.
It was historically once ‘renowned’ for its water and described as offering some of the ‘finest air of Britain.’
The building also has an extensive range of public facilities, including the stylish riverside lounge bar with panoramic views of the birkbeck river and surrounding fells, and an art deco-inspired main dining room.
The birkbeck suite includes the birkbeck restaurant, which seats up to 300 guests, and the lonsdale room, a more intimate space for smaller functions.
Additional amenities include multiple lounges such as the library and fell lounge, a games room, and two conference and events spaces, making the property suitable for both corporate and social gatherings.
Julian Troup, head of Colliers’ Hotels agency team handled the sale. He said: “Shap Wells Hotel is a unique property that’s been well maintained and traded over the years to create an all-round leisure offering for guests.
“It’s a business that is attractive to various clients, those looking to unwind in a stunning location or looking to explore the Lake District which is on the doorstep”
“There was strong interest in the property from a wide range of local and national operators, and we’re pleased to see that an expanding firm is adding it to their portfolio of hospitality businesses.”
“This transaction adds to the high volume of our UK hotel sales that have been concluded already this year and demonstrates the continuing confidence in the market from a diverse range of buyers.
“It adds to our recent Cumbrian/Lake District sales of the Villa at Levens and Borrowdale Gates Hotel which transacted earlier in the year.”
