Ellerthwaite Lodge, a four-star bed and breakfast located within walking distance of Lake Windermere in the Lake District, has been successfully sold, achieving a price in excess of £1m.
The 19th century property which comprises 17 en-suite bedrooms, a dining room, and ground floor coffee shop was sold off-market by Alastair Rushton, of Lonsdale Hotels Limited to Jonathan Denby at South Lakes Hotels.
Jonathan Denby, managing director of South Lakes Hotels said: “I’m delighted to add this exceptional property to our existing portfolio bringing the group total to six Lake District hotels, all of which benefit from the Certificate of Excellence from TripAdvisor.
“We aim to continue the excellent standards set by the previous owner Alastair Rushton. Our plans are to operate the business on an all-year-round basis, catering for both national and international guests.”
Alistair Greenhalgh, a director at LSH Hotels, which represented the seller during the sale, said: “Ellerthwaite Lodge is an attractive 19th century property which benefits from a superb corner plot and a honey pot trading location, which makes it a very appealing investment opportunity.
“This sale highlights an increasing trend for well-qualified purchasers returning to the leisure market to acquire correctly priced assets that offer a good reliable income, and strong growth opportunities. We are currently in contact with a number of buyers looking for similar opportunities.”