Interesting Hotels Group has bought the 58-bedroom Riverside Hotel in Kendal from South Lakes Hotels, off a guide price of £4.5m. The hotel group now owns eight hotels across the UK.
Ulrike Le Roux, managing director of Interesting Hotels, said: “We are delighted with the acquisition of Riverside Hotel which is a good addition to our portfolio. We welcome the team at the hotel to the group and we look forward to working with them in developing the business further.”
Jonathan Denby, owner of South Lakes Hotels, said: “My congratulations to Interesting Hotels on their first Lake District purchase. They have established an excellent reputation in the hospitality sector, so I am confident that the Riverside Hotel is in good hands. The sale will enable me to bring forward my development plans for my remaining six Lake District hotels, about which, I’m very excited.”
Julian Troup, head of UK hotels agency at Colliers, who brought the property to market on South Lakes Hotels’ behalf, added: “The size of the Riverside Hotel and the setting in an impressive tourist location resulted interest from a variety of potential purchasers, including developers and local investors. We’re pleased that the new owners are looking to continue the venue’s tenure as a hotel.
“This transaction adds to the high volume of our UK hotel sales that have been concluded already this year and demonstrates the continuing confidence in the market from a diverse range of buyers; despite current economic conditions.”
