Castle Green Hotel, a 99-bedroom four-star property in Kendal, has been sold to global hospitality investment group Frank Truman for an undisclosed sum.
The deal was brokered by Colliers International, with Napthens Solicitors advising the vendors. Gannons and BLM Solicitors advised the buyer.
Julian Troup, head of UK hotels agency at Colliers, described the transaction as “the largest and most valuable individual hotel sale that has ever taken place in Cumbria”. Frank Truman is based in London and Singapore.
The business will now be operated by Legacy Hotels & Resorts, which manages around 2,800 trading and pipeline guestrooms across the UK and southern Spain. Other Legacy operations in the region include the Pullman in Liverpool, Crabwall Manor in Chester, the Preston International and Wychwood Park in Cheshire.
Set in 14 acres of landscaped gardens and woodland, Castle Green offers 99 bedrooms, bar, lounge and Greenhouse restaurant, two substantial function suites, a business and training centre, the Pulse fitness club and Green Rooms spa and in a separate building, Alexanders restaurant.
The managing director of Castle Green Hotel Ltd is Tim Rumney, who also chairs Interchange & Consort Hotels, operator of the Best Western brand in this country.
Rumney said: “After twenty years of owning and operating The Castle Green Hotel in Kendal the shareholders have decided to retire or pursue other business interests. We would like to thank the hotel team for their commitment and the local community for their support over that time and for helping us create a very special hotel.”
The shareholders retain their ownership interest in the Pinewood Hotel in Handforth, which they acquired in 2011.
Troup added: “Castle Green boasts outstanding facilities and represents an ideal and strategic addition to the buyer’s growing portfolio of select UK hotels.
“Having marketed the hotel confidentially with an instruction to seek substantial offers, we attracted UK and international interest reflecting unprecedented levels of interest from investors in the acquisition of such quality hotel accommodation in prime locations.”
Cumbria and the Lake District, last year anointed as a UNESCO World Heritage site, is Colliers’ most productive UK region for hospitality transactions, with more than 30 businesses traded in the last two years.