Purchase shows increasing interest in hotel assets outside of London from overseas investors
The landmark Keswick Park Hotel in the centre of Keswick has been acquired by a Chinese investor from an asking price of £995,000.
Tong Zheng from Beijing bought the hotel on County Corner in the heart of Keswick in the Lake District from owners Don and Tracey Rogers who are retiring from the hotel trade to live locally.
The hotel, which dates back to 1880, offers 16 en-suite letting bedrooms, a conservatory-style restaurant with 24 covers and two-bed owners’ flat.
It has been closed for refurbishment and Mr Zheng plans to reopen the business for the Easter holiday period.
The hotel was sold to Mr Zheng by Haydn Spedding, associate director, Hotels at the North West office of real estate advisors Colliers International in Manchester, on behalf of Mr and Mrs Rogers.
Mr Spedding said: “Mr Zheng is indicative of an increasing number of quality overseas buyers looking to acquire hotels such as Keswick Park as investor interest moves outwards from London to other popular destinations such as the Lake District and major cities including Manchester.