Wed, 07 Sep 2011 | BUSINESS SALE
A buyer is still being sought for Cumbria's Sharrow Bay Hotel, which was put up for sale following the administration of its parent company von Essen back in April.
The country house hotel, which is situated between Howtown, Ullswater and Pooley Bridge, was amongst the von Essen portfolio of 28 hotels that were put onto the market by administrators Ernst & Young.
Despite an active marketing campaign, commercial property agents Christie & Co last week confirmed that they have not yet received a good enough offer for the premises, which has a £5 million price tag.
The asking price reflects the main building of the hotel’s short lease, which expires in September 2015, according to Christie & Co.
The property agent is also pushing forward with the sale of another 19 von Essen hotels, some of which are being sold in a group whilst others are being marketed individually. One of the hotels on the market is The Samling, located near Windermere, which comes with a price tag of £6 million.
Managing director of Christie & Co, Chris Day, told the News and Star, “As we anticipated, the portfolio attracted a great deal of interest nationally and internationally from a variety of operators and investors.
“The hotels that have not yet received acceptable offers have been reduced in price and will be immediately relaunched to the market — this is quite typical in multi-asset disposals such as this,” he added.
The Sharrow Bay Hotel, however, will retain its £5 million price tag for now.
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