Administrators at BDO have sold the Best Western Burnside Hotel in Windermere to local business group GGE.
The property, advertised for sale at £3.1m, has 57 bedrooms, conference facilities and a separate leisure complex with swimming pool and spa, set within 2.4 acres. BDO was appointed administrator and LPA Receiver to Riverside Hotels, trading as Burnside Hotel, on 1 March 2013.
Julian Troup, head of UK hotels agency at Colliers International, advising BDO, said: "There was a substantial level of interest in the Best Western Burnside Hotel from both local and national concerns. The business has a strong trading base despite being in administration, partly down to its iconic position overlooking Lake Windermere. This, coupled with the availability of staff accommodation in the town and included in the sale, made the hotel a very desirable business opportunity.
"The Lake District National Park is one of the UK's top year-round tourist destinations and demand remains strong for good quality hotels and leisure businesses in this area."
GGE is owned by local businessman Richard Berry and has a wide variety of interests from truck dealerships to housebuilders and commercial property rentals; but is best known locally for Romneys, the Kendal gastro pub.
Berry said: "The Best Western Burnside Hotel has a lot of potential and has a good level of existing trade to build on. The hotel's location in the Lake District has masses of appeal and is bound to ensure its future success."
Patrick Lannagan, joint administrator and partner at BDO LLP, said: "The location of the hotel and its established trading base made this property highly desirable and we were confident that a buyer would be found as we continued to trade the business. We wish the new owner every success for the future."
The Best Western Burnside Hotel was marketed by joint agents Colliers International and GVA.