The Riverside Hotel in Kendal, Cumbria, is up for sale and has been placed on the market at £4.5 million.
The property, part of the six-strong South Lakes Hotel portfolio, boasts 58 bedrooms, as well as two on-site restaurants, two meeting rooms, an indoor swimming pool, gym and an exercise studio. It is located in an enviable position on the banks of the River Kent, beneath the ruins of the town’s 12th century castle.
Robert Smithson, associate director at Colliers, who is handling the sale, commented: “This is a rare opportunity to buy an established hotel located in a highly popular tourist location very close to The Lake District National Park, one of the UK’s premier tourist destinations. The hotel is a successful business in its own right, benefitting from strong trade from a wide range of revenue streams.
“Whilst The Lake District is a densely populated National Park, there are few large conurbations with the Riverside being one of the largest hotels in Kendal, and with inbound tourists numbering an average of 15.5 million per year to the Lakes, it really has proved itself to be a tourist hot spot.
“The Riverside Hotel is now for sale to allow the owner to focus on other business interests, and the property, is ready to be taken to the next level by owners who wish to realise its considerable inherent commercial potential and take advantage of the significant interest in the Lakes and Cumbria as a holiday destination.”
Other properties currently owned by the South Lakes Hotel group include three sites in Windermere: Newby Bridge hotel, Cuckoo Brow and Windermere Park B&B. The collection also features Damson Dene near Bowness-on-Windermere and Bay Villa in Grange-over-Sands.