Fri, 17 Feb 2023 | COMMERCIAL PROPERTY
A Michelin-starred restaurant in Whinlatter Forest in the Lake District has been put up for sale with an asking price of £1.25 million. The Cottage in the Woods, located near Braithwaite, has been brought to market by Christie & Co.
The restaurant, previously led by head chef Sam Miller and now by Ben Wilkinson, was awarded a Michelin Star in 2020 and has garnered numerous other accolades, including being named Restaurant of the Year by both Cumbria Tourism and the Cumbria Food Awards.
In addition to the restaurant, the property, which is set over three floors, features 9 en-suite letting bedrooms, on-site owner and staff accommodation and parking for up to 18 vehicles. It is located on a 3 acre site with woodlands and a beck.
There is an outside seating terrace with space for up to 20 covers, a welcome area, guest lounge, bar and two additional lounges. Other ancillary areas include an office, store rooms, fully-equipped kitchen and pastry room.
In the year to April 30 2022, the business turned over around £817,000, operating 4 days a week, and Christie & Co say there is significant opportunity to increase this by extending the restaurant’s opening hours.
Despite its isolated rural setting, the restaurant is well-situated within the Lake District, close to the Newlands Valley, and Lakes including Bassenthwaite, Derwentwater, Buttermere, Crummock water and Loweswater. It is a short drive from the town of Keswick and close to the A66.
In a listing for the property, Christie & Co said: “The property is a very successful business however, there is a significant opportunity to increase revenue further should a new owner choose to do so.”
“The restaurant opening hours could be extended with relative ease, in particular the lucrative Sunday service, whilst the bedrooms would also be available to paying guests to maximise further revenue.”
“There would also be scope to consider how best to make use of the land with options available such as luxury lodges and hot tubs taking advantage of the fell views, subject to all the necessary planning consent being sought.”
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