Published On: Wed, Mar 8th, 2017

Latest £3.75m hotel sale makes Cumbria a hot spot for Colliers

borrowdale gates hotelSPECIALIST real estate advisor Colliers International has completed its 18th hospitality sale in Cumbria in the past 12 months – making it the hotel team’s most productive county.

The latest is for the Borrowdale Gates Hotel in Grange, near Keswick, which has been sold from an asking price of £3.75m to Fairtree Hospitality Real Estate Private Equity Fund, a Guernsey investment vehicle managed by international asset management company Fairtree Capital.

The property offers 33 en-suite bedrooms and 13 staff bedrooms in a building converted from a mid-19th Century private home and set in gardens and grounds with views along Borrowdale.

The Fairtree Fund already owns two hotels in Cornwall – The Old Quay House and The Rosevine – with further acquisitions in the UK hospitality being planned.

Julian Troup, head of UK hotels agency at Colliers International, said: “The acquisition of Borrowdale Gates Hotel, a genuinely outstanding example of a country house hotel in the Lake District, by Fairtree, is a further example of an international buyer securing a prime provincial hotel.

“We are witnessing an increasing flow of such deals, particularly involving buyers from the Far East and Asia, because the devaluation of sterling following the EU Referendum means such transactions are now 20 per cent less expensive than a year ago, thereby making the UK hospitality market a very attractive prospect for buyers overseas.”

He added that Cumbria is the most productive county for the hotels’ team at Colliers with 18 hotel and hospitality sales in the past 12 months.

  • Pub Management Couple
    Management Couple required for a small local Public House. Previous Management skills an advantage but not essential. You will need to have a goo […]
  • Commis Chef - Carden Park Hotel
    The Hotel … Carden Park Hotel is the very definition of luxury and comfort for both business and leisure guests visiting the Cheshire area. ... […]
  • Front of House - Kitchen - Housekeeping
    WANTED - To join our Team here at The Bacon Arms Hotel. We are probably the only Hotel/Bar in Newbury paying the National Living Wage which is £8 […]
  • Store Manager Bakery Shop & Cafe - Whickham
    Whickham, Gateshead - Salary starting on £19k We are a family run business, looking for a d riven and enthusiastic store Manager required for a b […]
  • Bar, Lounge and Terrace Manager
    To lead BLT to deliver the highest levels of service to all hotel guests and visitors Co-ordinate all BLT team functions and activities To be a r […]