Owner of The Woodlands Guesthouse expands Lake District portfolio
Retiring owners of Windermere’s Glenburn Hotel are handing the keys to their neighbour who is growing his stake in the Lake District. After a career in hospitality including owning the 16-bedroom hotel for the past 14 years Peter and Jackie Baister have decided to retire, and are handing over the reins to neighbour Youfeng Jiang of The Woodlands Guesthouse.
The hotel, which also includes a three-bedroom self-catering accommodation, was marketed by commercial real estate specialists Colliers with a guide price of £1.365million.
Jackie Baister said: “We’ve dedicated our careers to hospitality, working and owning pubs and hotels. After a lifetime of responding to our guests’ needs we’ve decided now is the right time to put ourselves first.”
“We’ve always had a good relationship with the team at The Woodlands and wish Youfeng Jiang the best of luck with his expanding hospitality portfolio,” added Peter.
Youfeng Jiang, who also owns another hotel in York, said: “Windermere and the Lake District is such a popular location that I’ve been on the look out to secure another investment in the area and when The Glenburn came onto the market it just made sense to expand our offering with our neighbouring plot. It will definitely make for a smooth transition process.”
Commenting on the sale, Haydn Spedding of Colliers’ Manchester-based Hotels team said: “The Glenburn has over the years acquired an enviable reputation in the experienced hands of Peter and Jackie. Colliers has already completed a significant number of sales in the Lake District this year, which underlines the continuing confidence in the hospitality industry for this area. This is not only a premier tourist area, but as we can see in this transaction a much sought-after investment destination.”