The Inn Collection Group has completed its first acquisition of the year with the purchase of the 38-room The Glenridding Hotel in Ullswater.
The award-winning northern pubco has bought the lakeside venue for an undisclosed value, taking its Lake District portfolio to nine and its overall site count to 28, as it continues to roll out strategic ‘buy and build’ growth plans.
The completion of The Glenridding Hotel cements The Inn Collection Group’s standing as the leading company in the UK for individual acquisitions and the pub company with the highest number of bedrooms per site in the country.
The group’s Lake District portfolio features sites in sought-after destination sites across the UNESCO World Heritage area including Coniston, Ambleside, Grasmere, Bowness-on-Windermere and Bassenthwaite.
Sean Donkin, managing director for The Inn Collection Group said: “The Glenridding Hotel is a real bucket list addition to the group. We are delighted to be expanding into further key Lake District areas in the UK’s most visited national park.
“Exceptional locations are very much a group USP and The Glenridding Hotel has this in spades. We look forward to building on the strong reputation this classic site enjoys and enhancing this with a careful refurbishment in line with our ‘Eat, Drink, Sleep and Explore’ concept and brand.”
The Glenridding Hotel is uniquely located on the southern shore of Ullswater with spectacular views of Helvellyn and is a popular starting point for walkers and climbers scaling the third highest mountain in England.
The existing site – which includes a coffee shop, bar, restaurant and conference facilities – will continue trading under until a sensitive refurbishment and remodelling takes place later this year.
The acquisition of The Glenridding Hotel follows the Alchemy-backed group’s first expansion into Wales in December with the purchase of The Swallow Falls Hotel in the Snowdonia National Park. December also saw the reopening of its The Temperance Inn in Ambleside following a multi-million pound refurbishment at the Cumbria site.
Ward Hadaway corporate partner Imogen Holland provided legal advice on The Glenridding Hotel acquisition with Neil Hart at Bradley Hall advising on pre diligence.
Neil Hart, group managing director at Bradley Hall Chartered Surveyors and Estate Agents said: “We are delighted to continue our work with The Inn Collection Group during this exciting and important time for the firm through its most recent acquisition in the Lake District.
“We are proud to support a firm which is dedicated to acquiring, developing and providing outstanding venues in line with its ambitious growth strategy and in creating new jobs in the hospitality sector is like no other organisation – with the Glenridding Hotel in Cumbria will be no exception to this. I look forward to continuing our well established partnership on upcoming projects.”
Martin Davis, Director with Graham + Sibbald who handled the sale on behalf of the former owner, Hassan Ali, said: “We are sure that the Glenridding Hotel will prove to be an excellent addition to The Inn Collection Group, given the properties excellent location close to Lake Ullswater within the beautiful Lake District National Park. The level of interest shown in the Glenridding Hotel demonstrates that the appetite and demand for good quality well located hotels remains. We wish The Inn Collection all the very best with their latest acquisition and look forward to watching their continued growth.”