UK: The Wateredge Inn at Waterhead Bay has been acquired by The Inn Collection Group, marking the third venue for the company in Ambleside.
The 38-bedroom property provides direct access to Lake Windermere – the largest natural lake in England. The acquisition brings the total number of Cumbria-based hotels in the group’s portfolio to seven.
It will join The Ambleside Inn and The Temperance Inn (also located in the area), as well as The Angel Inn (Bowness on Windermere), The Coniston Inn (Coniston), The Swan (Grasmere) and The Pheasant (Bassenthwaite).
The acquisition marks the first purchase of 2021 for the Inn Collection Group. The deal was supported by Colliers International which acted on behalf of the vendors and coordinated the sale negotiations.
Managing director of the Inn Collection Group, Sean Donkin said: “The Wateredge Inn is a magnificent addition to our portfolio. We are excited to have brought this extraordinary venue into our collection as our group continues to earn its stripes for its outstanding pubs with rooms in the very best locations across the north of England.
“In the most challenging of times for the hospitality sector, it’s a real boost to have good news like this to share as the trade looks ahead to reopening in line with lockdown restrictions easing and we prepare for a predicted staycation boom fuelled by Covid uncertainties about overseas travel and Brexit.
“Our priority is identifying and sourcing remarkable venues with their own USPs,” Donkin added. “With its lakeside setting and close proximity to Ambleside, The Wateredge Inn is matchless and will be a stunning new addition to our eat, drink, sleep and explore collection.”
Julian Troup, head of hotels agency at Colliers, said: “The Wateredge Inn is probably the best located inn in the region, enjoying an outstanding lakeside position at Waterhead Bay and on the fringe of Ambleside and we received keen competitive interest after being instructed to go confidentially to the market and approach a target list of active buyers.”
Elsewhere in the UK, the Inn Collection Group has venues in Northumberland, County Durham, Yorkshire and Lancashire. A 40-bedroom new build site in Sunderland is set to open in June.