Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Business
Jon Robinson

Lake District hotel up for sale with near £4m price tag

A Lake District hotel has been put up for sale with a price tag of almost £4m.

Shap Wells Hotel has 108 ensuite bedrooms as well as a 300-cover restaurant and a lounge with space for 90 people.

The three-star hotel is being marketed by Christie & Co for £3.85m.

READ MORE: Morrisons beats Asda-owning billionaire Issa brothers to rescue McColl's and save all 16,000 jobs

It is located in 15-acres of land between Blea Beck and Birk Beck in Penrith.

According to Christie & Co, the hotel is able to cater for weddings and also includes a gym and games room.

A statement on its website said: "The business has been owned by our overseas client for many years, during which time they have undertaken significant improvements and development programmes.

"The business currently trades as a full service three-star hotel, with a mix of corporate, private leisure trade and coaching business is further supplemented by income from the conference and banqueting facilities.

"The business has continually been operated under a full management structure and provides numerous opportunities for an ingoing purchaser to add further value, such as the further development and conversion of some of the conference and banqueting space into additional bedrooms."

For the 12 months to December 2019, the hotel turnover over just under £2m and achieved an adjusted net profit of about £365,000.

Sales are forecast to be about £2m for 2022, Christie & Co added.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.