Lake District Hotels has bought the Patterdale Hotel for an undisclosed sum.
The group, which owns six venues in the Lake District, said it had plans for an extensive revamp of the property, which was for sale with guide price of £3.95 million.
It was sold by Colliers’ specialist hotels team on behalf of Choice Hotels (Blackpool) Ltd.
Dating back to 1626, the 60-bedroom Patterdale Hotel sits in around six acres and has extensive staff accommodation, and public areas, including the Place Fell Inn lounge bar, an interconnecting snug, the West Lounge with combined seating of around 40, and a restaurant seating 66.
Choice Hotels (Blackpool) Limited, also owns four other hotels, including the Keswick Country House Hotel, a Victorian-style 73-bedroom three-star property near Keswick town centre. That hotel is also being marketed by Colliers, following the directors’ decision to refocus their attention on their original Lancashire coast portfolio.
They commented: “It has been a privilege to steward the Patterdale Hotel for more than 25 years, investing significantly in refurbishments and upgrades.
“The hotel enjoys a loyal customer base, and we wish the new owners every success as they take the business into an exciting new chapter, building on this solid foundation and capitalising on the hotel’s unique setting.”
Dani Hope, director of Lake District Hotels Ltd, said: “We are excited to add the Patterdale Hotel to our collection of Lakeland hotels. We have extensive plans to upgrade the accommodation and to trade the hotel alongside our other properties in the north Lakes.”
Lake District Hotels owns Lodore Falls Hotel & Spa near Keswick, the Borrowdale Hotel, Inn on the Lake at Ullswater and Keswick’s Inn on the Square, Skiddaw Hotel and Kings Arms.
Julian Troup, head of Colliers’ hotels agency team, added: “The Patterdale Hotel unsurprisingly generated significant interest from a diverse range of interested parties.
“The opportunity offered an enviable location, extensive accommodation, and solid trading performance, making it a highly attractive proposition. This transaction is further evidence of the Lake District’s continued ability to attract strong domestic and overseas investment.”
