Fri, 15 Jun 2018 | COMMERCIAL PROPERTY
A Georgian hotel from the 19th century has been put on the market for an unknown amount.
Lovelady Shield Country House Hotel, located in the northern Pennines just 2.5 miles from Alston, Cumbria, has appointed property consultants Sanderson Weatherall and real estate company Savills as joint agents to market the sale of the hotel.
The property boasts 15 double bedrooms, four barn-style cottages that create 17 further rooms, and a restaurant that stars an AA Rosette rating. It is reachable from both the A69 and M6 motorways.
Planning permission has also been granted to develop 38 holiday lets on the site.
David Murray from Sanderson Weatherall said: “This is a rare and fantastic opportunity to acquire and redevelop this country house hotel into a stunning holiday destination in a designated area of outstanding natural beauty.
“The development also has planning permission providing for 38 holiday lets along with an indoor swimming pool and spa facility, offering the potential to develop a first-class, luxury hotel and spa resort in a beautiful location which would significantly increase the site’s revenue potential.”
A study by PwC predicts a positive future for the regional hotel industry in 2018, forecasting a 2 per cent growth in ADR, and a RevPAR growth of 2.3 per cent this year.
“The peace and tranquillity this destination offers, together with the varied range of outdoor pursuits available in the immediate proximity, makes it a highly desirable investment,” added Murray.
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