Hotel in the Lakes bought by Shropshire firm
A Shropshire-based group has completed a deal to buy a Lake District hotel for almost £5 million.
Guyzance Hall Ltd, which is based on Shrewsbury Business Park, has acquired The Wordsworth Hotel and Spa in Grasmere, Cumbria, which had a guide price of £4.95 million.
The hotel in the popular North West tourist spot achieved turnover of approximately £2.4 million in 2014, and is added to a line-up of properties in the chain which also includes three in Northumberland and others in Scotland.
Guyzance operations director Eric Kortenbach said: "We are delighted at this acquisition. It sits well with the company's small portfolio, and I know that our major shareholders' owners are very pleased."
The deal for the hotel, which began life as a shooting lodge for the Earl of Cadogan, has seen the group take the property over from Ian Gartside, who is now set to retire.
The Wordsworth comprises 39 en-suite bedrooms, a restaurant with 80 covers and two AA Rosettes, a conference suite, staff accommodation and leisure facilities including a heated indoor swimming pool and health and beauty spa. It sits in 2.5 acres of land.
Julian Troup of Colliers International, which handled the sale, said: "The Wordsworth is one of the Lake District's leading country house hotels in a prime location, in the hugely popular tourist destination of Grasmere, and represents an ideal addition to Guyzance Hall Ltd's burgeoning portfolio of country house hotels.
"This is the fourth large Lakes hotel, including Grasmere Red Lion (49 bedrooms), Burnside Hotel Bowness (57 bedrooms) and Windermere Hydro (84 bedrooms), sold by Colliers International since summer 2013. Each was sold to a different type of buyer with the only common theme being the strong demand for hotels in the national park."
