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Regional hotel company expands in the north with latest purchase

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49-bedroom Trout Hotel in Cockermouth has been acquired by a local entrepreneur in a deal brokered by real estate advisors Colliers. 


The specialist hotels team at real estate advisors Colliers, acting on behalf of a private owner based in the Northeast of England, has successfully concluded the sale of the Trout Hotel, Cockermouth, the renowned and well-appointed AA Four Silver Star hotel to a local entrepreneur, Bill Dobie.

Bill Dobie and family own the Washington Central Hotel, Workington and are very successful and supportive business operators. 

The opportunity was confidentially launched to the market by Colliers with an asking price of £4,850,000. The sale took place at an undisclosed price.

Colliers acted for the private vendors who in recent years undertook an extensive circa £3,000,000 refurbishment programme that has resulted in a high-quality hotel asset offering a solid and stable trading performance.  

The deal was brokered by Julian Troup, head of UK Hotels Agency at Colliers, who described the transaction as: “Yet another example of us being able to attract significant interest in a Cumbrian hotel opportunity, yet in a highly confidential fashion. The sale reflected continuing strong demand for quality hotel accommodation from both overseas and domestic buyers, with competing interest coming from a cluster of buyers. Despite 2020 being a challenging year, this is the 38th completed Cumbrian hotel sale Colliers has exclusively handled since the beginning of last year.”

Since the beginning of 2021 Colliers has sold in excess of 120 UK hotels and associated businesses to a diverse range of buyers. 

The Trout Hotel occupies a highly prominent location at the heart of the popular and attractive market town of Cockermouth, located next to the National Trust building that was the birthplace of William Wordsworth and where he reputedly wrote one of his most famous poems The Daffodil. 

The hotel has traded successfully following the heavy investment undertaken by the sellers, achieving net annual revenue of around £2,600,000 during 2019. The hotel provides outstanding facilities including 49 en-suite letting bedrooms, Impressive public areas including lounge bar, Derwent Restaurant, Terrace Bistro and Wordsworth Suite being located in attractive grounds with river frontage. 

Ashraf Ali of Square One Law Solicitors based in Newcastle advised the selling shareholders.

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Related Experts

Julian Troup

Head of UK Hotels - Agency

Hotels Agency

London - West End

I originally trained with a long established firm of Chartered Surveyors based in Manchester and have been working in the licensed, leisure and hotel property market since 1987. I joined Colliers in 2007 to head up our UK Corporate hotel operation. I was appointed Head of UK Hotel Agency during 2011.  Since the beginning of 2003 I have sold or acquired over 100 provincial hotels on behalf of clients of asking prices ranging from £1.2m to in excess of £20m.  In addition to the managerial responsibilities, I remain focused on handling larger private and corporate hotel transactions throughout the UK.

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Kim Inam

PR Manager

Marketing & Communications

London - West End

I'm a communications professional who has previously worked as a journalist for eight years covering a broad range of topics including politics, crime, health and housing in north London. In recent years I have worked in corporate communications for local authorities across London  and joined Colliers in October 2019, initially providing maternity leave cover.

I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, and work with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

As well as supporting various teams within the UK business, I also I curate and edit regular content for the Colliers.com blog, which drives credible business leads to our experts.

 

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