Guyzance Hall Ltd acquires The Wordsworth Hotel and Spa at Grasmere, Lake District
Property News - Guyzance Hall Ltd acquires The Wordsworth Hotel and Spa at Grasmere, Lake District
Guyzance Hall Ltd, based in Shropshire, has acquired The Wordsworth Hotel and Spa in Grasmere, Cumbria, off a guide price of £4.95m in a deal brokered by the specialist hotels team at real estate advisors Colliers International.
Eric Kortenbach, Operations director of Guyzance Hall Ltd has seen the holding Company add the four-star country house hotel to a growing portfolio of such exclusive properties including three hotels in Northumberland and others in Edinburgh and Kelso in the Scottish Borders.
Julian Troup, Head of UK Hotels - Agency at Colliers International, acted on behalf of Iain Garside, the Cumbrian hotelier and owner of The Wordsworth Hotel, who is retiring from the trade having invested heavily in the property.
Dating from the 17th century when the original property was built as a shooting lodge by the Earl of Cadogan, The Wordsworth Hotel features 39 en suite bedrooms, a new restaurant with 80 covers and two AA Rosettes, a conference suite, staff accommodation and leisure facilities including a heated indoor swimming pool and health and beauty spa. The hotel sits in 2.5 acres with extensive gardens and 60 parking spaces.
The Wordsworth has traded well in recent years with an annual turnover of around £2.4m during 2014 .
Julian Troup said: “The Wordsworth is one of the Lake District’s leading country house hotels in a prime location, in the hugely popular tourist destination of Grasmere, and represents an ideal addition to Guyzance Hall Ltd’s burgeoning portfolio of country house hotels. This is the 4th large Lake District hotel, including Grasmere Red Lion (49 bedrooms), Burnside Hotel Bowness (57 bedrooms) and Windermere Hydro (84 bedrooms), Colliers have sold since Summer 2013. Each of the 4 hotels sold to a very different type of buyer with the only common theme being the continuing strong demand for hotels in the UK’s largest National Park”.
The Lake District is the UK’s largest National Park and attracts over 15 million visitors each year and saw occupancy rates rise over 5% during 2014, when compared with the previous year.
Mr Kortenbach added: "We are delighted at this acquisition. It sits well with the Company’s small portfolio, and I know that our major shareholders owners are very pleased”.