A property investment firm based in Essex has acquired its first hotel in Cumbria, with the ambition of creating a new hospitality group.
Sterling Woodrow, a Billericay-based firm, has snapped up the three-star Cumbria Park Hotel in Carlisle from hotelier Dean Barnes, who has owned the property for the last seven years.
He now plans to explore other opportunities within the hospitality sector.
Robert Horwood, director at Sterling Woodrow, who headed up the deal said that the company was ‘looking forward to adding more hotels to the group’ as it looks to make its mark on the hospitality industry.
Cumbria Park Hotel comprises 55 bedrooms, a newly-refurbished bar, restaurant, event spaces and leisure facilities.
Ryan Lynn, director at Christie & Co handled the sale and comments: “It has been a pleasure to be involved this transaction on behalf of Dean and work with Robert to push things along as the sale progressed. Everyone involved worked hard to get us to completion, ending up with a swift sale which took just a few months start to finish. I wish Dean all the best with his future ventures and am sure that Sterling Woodrow will take the business from strength to strength.”