A former farmhouse in Cumbria that was turned into a high-quality self-catering hospitality business within the Lake District National Park has been sold to sector newcomers.
Near Howe, which is located between Keswick and Penrith, has been purchased for an undisclosed price, off a guide price of £1.7 million, by Mark and Fiona Shore, who will be moving to the Lakes from Hertfordshire.
The former owners, Steve and Jill Woolley, were represented by the specialist Hotels Agency team at real estate advisors Colliers. Funding for the purchase was provided by the Cumberland Building Society, which continues to support the hospitality sector.
Robert Smithson, senior surveyor at Colliers, said: “We are delighted to have sold Near Howe on behalf of Mr and Mrs Woolley, who had owned the former farmhouse for more than 14 years and had chosen to run it as a successful, high-standard lifestyle business, which provided them with both an income and a superb quality of life.
“They have created a beautiful home and successful business and I am sure it will go from strength to strength under the ownership of Mr and Mrs Shore.
“There was a good level of demand for Near Howe, and it is particularly pleasing to see new market operators entering the sector and, of course, the positive attitude of lenders in the current market.
“We are continuing to sell properties despite the pandemic, particularly those like Near Howe where the level of profit supports the guide price.”
Near Howe occupies an idyllic elevated position with views over the surrounding Lake District National Park. Originally built as a farmstead around 180 years ago, it was converted into a guesthouse in the late 1960s and then later developed into an owner’s farmhouse with seven high quality self-catering cottages.
Mark Shore said: “We are really excited to move to Near Howe and to continue the wonderful business the previous owners created.”
Fiona added: “We’re looking forward to welcoming guests to this idyllic location as soon as we’re allowed.”