Two Peak District hotels change hands
Specialist business property adviser, Christie & Co has recently completed on the sale of two hotels in the picturesque Peak District National Park. The sale of The Izaak Walton hotel and The Maynard highlights an increasing level of demand within the area.
The Izaak Walton, which boasts a rating of 4.5 on TripAdvisor, is a 17th century AA 3-Star hotel offering 38 en-suite letting rooms for guests. Other highlight facilities include the Dovedale Bar & Lounge and the Haddon Restaurant on site, as well as five dedicated function spaces for conferences and weddings. The hotel benefits from steady local tourism as well as passing trade due to its ideal location in the Peak District and proximity of the Dovedale Stepping Stones.
The vendor, James Keay approached Gavin Webb, Senior Business Agent at Christie & Co to handle the sale as he is now looking to retire from the hotel trade. James purchased the hotel out of administration around five years ago and has successfully turned the business around with the support of the management team.
The business has been purchased by Terry Davie, a knowledgeable operator with over 20 years’ experience who previously operated a hotel in the Lake District, which was sold last year. He plans to continue building on the successful trade with the support of the existing management team who will be retained as part of the sale.
The Maynard, situated near to historic Chatsworth House, was brought to the market by the vendor, so that they could retire. The 17th century hotel and wedding venue boasts 10 en-suite letting rooms, bar, restaurant and two dedicated function rooms along with separate manager's accommodation.
Commenting on the sales, Gavin Webb said "I'm really pleased to have completed on these hotel sales in the Peak District, following on from the sale of Callow Hall in 2018. We had a lot of interest in The Izaak Walton and I am very confident the business is in competent hands under Terry's ownership. The Maynard also received a lot of interest when it was first brought to the market and we wish the new owner every luck with his future plans. The sale of these assets demonstrates the strong level of demand we are experiencing for good quality hospitality businesses across the Peak District."
For further information on this press release, contact:
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com
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