The Inn Collection has bought the Queens Hotel in Ambleside, which was on the market for more than £2.8m, following the purchase of another site in Coniston last year.
In a deal supported by Colliers International, the hotel’s private owners, who have run the hotel since 2001, sold the 26-bed hotel and restaurant to the group for an undisclosed price. The property was on the market for offers over £2.8m.
The Queens Hotel is the Inn Collection’s 10th site in the North; the North East-based company operates a number of sites across Northumberland, County Durham, and North Yorkshire. Along with Colliers, Bradley Hall, JLL, and Ward Hadaway also acted on the deal for the Queens.
Last year, the group purchased the Waterhead Hotel in Coniston, again advised by Colliers. The Inn Collection is backed by Alchemy PE, which bought the company from Kings Park Capital last summer. The group is also backed by challenger bank Oaknorth to help drive an expansion plan across the north of England.
Julian Troup, head of UK hotels agency at Colliers International, said: “We were delighted to complete the sale of the Queens Hotel in a highly confidential fashion.
“Our instructions were to approach a list of targeted potential buyers, and from this we were able to select The Inn Collection Group who had shown their ability to perform when we sold them the Waterhead Hotel, Coniston last year.
“Its sale is indicative of an unprecedented level of interest from buyers wanting to acquire UK provincial hotels, with the Lake District continuing to be Colliers’ most productive area in the UK. This heightened demand for property in the Lakes is partly because of it being designated a UNESCO world heritage site.”
Find out more about opportunities in the area at Place North West’s Cumbria Development Update, taking place in Kendal on 28 February. Click here to book tickets.