Lake District guest house sells to Indian investors off £1.1m asking price

grizedale lodgeGRIZEDALE Lodge guest house near Hawkshead in the Lake District has been purchased by Indian investors off an asking price of £1.1m.

The former hunting lodge was sold by real estate advisors Colliers International to Paramount United Ltd, a business owned by Gokul and Rashida Jaykrishna from Ahmedabad who own similar properties in Europe and North America.

Located between the visitor hotspots of Lake Windermere and Coniston Water, Grizedale Lodge has eight individually styled en-suite bedrooms, three-bedroom owners’ accommodation, gardens and car parking.

Haydn Spedding, associate director, hotels agency at the Manchester office of Colliers, achieved the sale on behalf of retiring owners Richard and Deborah Charley.

“We believe this represents our first sale of a Lake District guest house to an Indian investor,” he said.

“The acquisition highlights the increasing appeal of the region to international investors following it being awarded World Heritage Status by Unesco and an important place in which to invest outside of London and the South East of England.”

He added that Mr and Mrs Jaykrishna had not confirmed their plans for Grizedale Lodge but understood that its appeal and that of the Lake District was based partly on the type of place “where they like to spend time themselves”.

The Lake District is Colliers’ most productive region for hospitality sector deals in the UK, with the agency securing more than 30 sales in the area during in the past two years. @copy NewspaperTimes - All rights reserved