Chinese investor Tong Zheng has increased his portfolio of property investments in Keswick with the acquisition of Brigham Farm Apartments for £500,000.
Beijing-based Mr Zheng became a key player in the Lake District visitor economy when he bought the landmark Keswick Park Hotel from an asking price of £995,000 in early 2014.
He has now acquired the six self-catering holiday apartments on the edge of the popular tourist town from Norman and Jill Green who have owned the premises since 1995 but are reducing their business commitments ahead of retirement.
Mr and Mrs Green were represented by the specialist hotels team of real estate advisors Colliers International and fellow property agents PFK of Penrith.
Haydn Spedding, associate director, hotels agency at the North West office of Colliers International in Manchester, secured the sale and said: “This is one of a significant number of sales in the Lake District hospitality sector negotiated recently by Colliers International in a market which continues to show a marked increase in activity.”
Mr Spedding represented Don and Tracey Rogers when they sold the historic Keswick Park Hotel to Mr Zheng before retiring from the trade.
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 had been closed for refurbishment and Mr Zheng planned to reopen the business for the Easter holiday period.