UK: The Inn Collection Group has added another property to their portfolio, acquiring popular Whitby venue The Stables at Crossbutts.
It will be the third property the group owns in Yorkshire and the sixth purchase made by the group in 2020 in spite of COVID-19.
The company is currently undergoing a strategy of “buy and build,” acquiring multiple properties and improving those in their current portfolio. Supported by OakNorth Bank, Inn Collection Group also worked with Newcastle law firm Ward Hadaway, and chartered accountants Silverstone.
Sean Donkin, Inn Collection Group managing director, said: “Whitby has been in our sights for a number of years and we’ve been excited by the opportunities generated by this superb site and its operators for a considerable time. 2020 was mapped as a year of strategic growth for the group and despite the continued hurdles of Covid-19, we are on track to expand the estate as we grow our presence across the north of England in quality locations with potential to deliver high-yielding, sustainable results.”
The group also owns five sites throughout the Lake District, with an additional property under construction near the Wearside on Sunderland seafront. It also debuted its first Lancashire property last week, with the completion of The Lindum Hotel in Lytham St Annes.
Overlooking the Esk Valley and nearby both the Whitby beach and a fishing village, the nine-bed inn is well situated for destination travel. Inn Collection Group has also committed to continuity of trading for The Stables, securing jobs for its employees.