A Lake District hotel and inn, the New Dungeon Ghyll, Great Langdale, has been bought off-market for an undisclosed price by RedCat Pub Company, who is expanding its portfolio.
The three-star site is located at Great Langdale amid the “spectacular” fells of the Langdale Valley in the Lake District National Park, on a site of around 12 acres which includes mature gardens and pastures, an extensive outdoor seating area, and a car park.
The traditionally constructed detached stone property beneath a slate roof was originally a farmhouse, but was converted in 1832. It currently features 23 en-suite letting bedrooms, and “impressive” public areas with restaurant, bars and lounges.
The acquisition marks the first venture into the Lake District for the private equity backed firm, which was launched earlier this year, and is the latest in a series of off-market deals to be brokered in the region by Colliers’ Hotels specialists.
Julian Troup, head of Hotels Agency at Colliers, who acted for the Smith family who had owned New Dungeon Ghyll for 30 years, said: “The hospitality sector in the Lake District has been attracting increasing corporate attention, as indicated by this acquisition of the renowned New Dungeon Ghyll hotel by the recently-formed RedCat Pub Company.
“With interest rates remaining low, hotels and pubs in staycation areas such as the Lakes are delivering impressive trading figures and solid returns on investment, and we expect to see continuing corporate and private demand from both overseas and domestic buyers given the growing popularity of UK staycations.”
James Boshier, director of Everard Cole acted for RedCat, added: “I am delighted that RedCat now have a foothold in the Lake District and am looking forward to working again with Colliers to identify further opportunities throughout the Lakes.”