The Inn Collection Group has grown to 10 sites with the acquisition of The Queens Hotel in Ambleside, in the Lake District.
The site was acquired through Colliers off an asking price of £2.8m from Terry Davie and Mary Albert– Davie, who have owned the hotel for the last 17 plus years.
The Alchemy partners-backed group, which aims to more than double its portfolio to 21 hotels by 2022, has appointed north east property firm, Bradley Hall, to support its growth.
The Inn Collection Group’s managing director Sean Donkin said: “We are excited to be bringing The Queens Hotel and its team into The Inn Collection Group family. Ambleside is a stunning location with an all-year-round appeal for walkers, outdoors enthusiasts and weekenders.
“We take a great deal of pride in repurposing and enhancing historic buildings and are looking forward to investing in The Queens Hotel to meld with our award-winning eat, drink, sleep and explore philosophy.”
Julian Troup, head of UK hotels agency at Colliers International, commented: “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.”
“It was particularly satisfying for me to negotiate the sale having personally negotiated the sale to Mr and Mrs Davie in Sept 2001”
The Queens Hotel is the group’s third acquisition within the past 12 months, following the purchase of its first Lake District landmark property, The Waterhead Hotel in September and the reopening of The Seaton Lane Inn in County Durham after a major redevelopment in April. The operator opened a £4m new build unit, The Amble Inn in Northumberland in January 2019.