A strengthening market in the sale of guest houses and small hotels throughout the Lake District has led to Oakfold House being acquired for a sum close to the asking price of £795,000.

The eight-bedroom guest house in Bowness-on-Windermere was sold to Maxwell and Marnie Ashworth from Carshalton, Surrey, by the hotels agency team at the North West office of real estate advisors Colliers International in Manchester.

The sale was secured by Colliers International on behalf of owners Michael Kilpatrick and Michael Rapson who are retiring from the trade to live in the Peak District.

The outgoing owners had undertaken a complete refurbishment of Oakfold House including the installation of en suite facilities in all of its bedrooms.

Haydn Spedding, associate director hotels at the North West office of Colliers International, secured the sale and said: “The top-to-toe refurbishment of the property makes it one of the best examples of guest house accommodation in Bowness and its hinterland and one that has traded very strongly with outstanding profits.

“Oakfold is just one of a significant and rising number of such properties in the Lake District on our books that are attracting the attention of potential purchasers. People are being encouraged to bid by a market strengthening in line with the wider economy and an improved ability to secure funding from both traditional and non-traditional lenders.”