Two Lake District hotels with for sale signs

Tue, 12 Mar 2013 | ADMINISTRATION

Two hotels in the Lake District have been put up for sale after the companies running them entered administration recently.

Tracey Pye and Patrick Lannagan of BDO have been drafted in to act as the joint administrators to the two businesses – Taylor Hotels (Grasmere) Ltd, behind the Red Lion Hotel, and Riverside Hotels Ltd, which operates Burnside Hotel - and also as the Law of Property Act Receivers over related properties.

The hotels are still trading and are being marketed by Colliers International and GVA. The administrators have already received expressions of interest from corporate buyers.

There has been no information given on the reason for the hotel operators’ distressed situation, and no staff have been made redundant.

Located in Grasmere, the Red Lion Hotel has 49 en-suite bedrooms and leisure facilities. It has 37 employees. The Burnside Hotel is situated in Bowness-on-Windermere, has 57 bedrooms and a leisure centre, with 41 staff.

Collies and GVA said in a joint statement, “The two hotels have already attracted strong interest from corporate purchasers, the hotels enjoy enviable positions within Bowness and Grasmere and both hotels come to the market with strong trading records and enviable reputations amongst local hoteliers.”

Related articles:
Buyers sought for Gloucestershire Hotel on the Park
Paragon Hotel on the market for £6 million
How to buy a hotel

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