Troutbeck Hotel and Holiday Cottages at Penrith in the Lake District National Park has been sold from an asking price of £725,000 by the specialist hotels team at real estate advisors Colliers International.

Acting on behalf of owners Kenn Elliott and Rowan Mahon who are retiring to live in Scotland, Colliers sold the property to Alan and Nikki Fox, relocating from Swillington, West Yorkshire.

Kenn and Rowan are experienced operators of hotels in the Lake District having previously owned Haweswater Hotel in the Haweswater Valley and Cedar Manor Hotel in Windermere.

The Troutbeck Hotel and Holiday Cottages complex has seven letting bedrooms, a three-bedroom owners’ apartment and three, two-bedroom self-catering holiday cottages.

Having acquired the Troutbeck in 2008, Kenn and Rowan extensively refurbished and upgraded the premises to produce a business enjoying a ‘significant’ increase in turnover and profits.

The property is located on the A66 in the hamlet of Troutbeck, midway between the Lake District visitor hotspots of Penrith and Keswick.

Haydn Spedding, associate director, hotels agency at the Manchester office of Colliers International, secured the sale and said: “This significant sale of a high turnover Lakeland inn is further evidence of the market for such properties benefiting from the Lake District being awarded World Heritage Site status by Unesco.

“Kenn and Rowan established an excellent reputation at Troutbeck Hotel, complementing the self-catering cottages and high quality en- suite bedrooms with excellent food for which it became particularly well known while Alan and Nikki also bring invaluable experience in the trade.”