Christie + Co sells 4-Star Lake District guesthouse
Businesses sold
Specialist property adviser Christie + Co is delighted to announce the sale of the Cherry Garth Guest House, situated in the heart of the Lake District National Park.
Superbly positioned in the bustling town of Ambleside, only a short stroll from Lake Windermere, the traditional 19th Century Lakeland house was sold off a guide asking price of £850,000. The award-winning business included 12 en-suite letting bedrooms and benefits from self-contained owner’s accommodation comprising two en-suite bedrooms, kitchen and lounge.
The sale was handled by Martin Davis, Director at Christie + Co’s Manchester office. He says: “Cherry Garth presented an ideal opportunity for buyers looking to purchase a lifestyle business. Our clients have owned the hotel since 2004 and have built up a fantastic reputation, earning them an AA 4-Star rating. That said, there is still potential for the ingoing purchasers, experienced operators, Joe and Sarah Warzecha to further develop the business.”
Martin adds: “We are pleased to report that the recovery in the hotel sector that we saw in 2014 has continued in the first half of this year. We have experienced a further increase in activity across all aspects of the transactional and valuation sides of our business compared with 2014. In addition to attracting experienced regional operators and high net-worth individuals, it is interesting to note the increase in the number of overseas buyers that are looking for hotel opportunities across Cumbria and the North West of England, given the favourable rates of return when compared with their own countries, as well as those seen in London and the South East, where Bricks and Mortar values and operational costs can be considerably higher.”
