UK: South Lakes Hotels is selling the Riverside Hotel in Kendal, Cumbria for offers over £4.5 million.
The 58-room property includes conference facilities, leisure facilities and two dining venues. It is located on the banks of the River Kent beneath the ruins of the town’s 12th century castle.
Colliers has been appointed to market the hotel. Associate director, Robert Smithson, said: “This is a rare opportunity to buy an established hotel located in a highly popular tourist location very close to the The Lake District National Park, one of the UK’s premier tourist destinations. The hotel is a successful business in its own right, benefitting from strong trade from a wide range of revenue streams.
“Whilst The Lake District is a densely populated National Park, there are few large conurbations with the Riverside being one of the largest hotels in Kendal, and with inbound tourists numbering an average of 15.5 million per year to the Lakes, it really has proved itself to be a tourist hot spot.
“The Riverside Hotel is now for sale to allow the owner to focus on other business interests, and the property is ready to be taken to the next level by owners who wish to realise its considerable inherent commercial potential and take advantage of the significant interest in the Lakes and Cumbria as a holiday destination.”
