SOLD by Colliers – The Riverside Hotel
The Riverside Hotel in Kendal has been sold off a guide price of £4.5 million to Interesting Hotels Group.
This latest purchase of the 58-bedroom hotel sees Interesting Hotels Group portfolio extend to eight hotels in total.
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.”
The Riverside Hotel is located at the centre of Kendal in a beautiful location on the River Kent, beneath the ruins of the town’s 12th century castle, was brought to the market on behalf of local hotelier South Lakes Hotels Limited, by hotel sector specialists Colliers.
The popular hotel in “the gateway to the Lakes” includes extensive public areas, including bar and restaurant, meeting space and attractive leisure facilities, as well as valuable town centre car parking.
Julian Troup, Head of UK Hotels Agency at Colliers 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.”
Keith Melling of Napthens Solicitors advised the selling shareholders.