UK: The four-star Daffodil Hotel & Spa in Grasmere has been acquired by Fairtree Alternative Real Estate backed by funds advised by Blantyre Capital Limited.
Daffodil Hotel & Spa is an independent property with views over Lake Grasmere. It is set on nine acres of land and offers 78 bedrooms, several bars, function facilities and a spa.
Fairtree and Blantyre previously bought Fonab Castle Hotel and Dunked House in Perthshire, Scotland earlier this year.
Joe Bester, portfolio manager at Fairtree said: “We’re pleased to announce our latest acquisition with Blantyre as we curate our UK luxury leisure portfolio. Daffodil Hotel & Spa is a premium leisure destination in a stunning popular location which attracts visitors from across the globe with significant opportunities for adding value and improving the offering.”
Johann Scheid, investment executive at Blantyre said: “We are excited to back Fairtree, our experienced UK leisure hotel operating partner in their value-add UK leisure platform with the possibilities of expanding in a market with attractive staycation tailwinds.”
Julian Troup, head of UK hotels at Colliers, advised on the deal which took place at an undisclosed price. He said: “This is a significant individual hotel sale in the Lake District and reflects strong future demand from customers keen to holiday in the area. We’ve advised on 37 transactions in this region since the beginning of last year.
“It’s a strategic addition to the fund’s growing value-add portfolio operated by the Fairtree Hotel Management team of select luxury UK hotels and it’s notable that this sale coincides with the fifth anniversary of the Lake District acquiring its UNESCO World Heritage Site status.”
Keith Melling and Wendy Keely of Napthens Solicitors advised the selling shareholders.