Squire Hotels adds Lakes property to portfolio

LAKES hotel the Windermere Hydro has been sold for £3.75m.

The 84-bed venue, close to the centre of Bowness-on-Windermere, has been bought by Squire Hotels which is planning a full refurb.

It has been sold by Lake Hotel Ltd, which is owned by Paul Tomlinson and Ken Burchill who are retiring.

Squire Hotels is based in Manchester and owned by Christine Adamson. Last year it acquired Etrop Grange near Manchester Airport and The Swallows Hotel near Preston.

Julian Troup, head of UK hotels agency at Colliers International, advised the owners.

He said: “We were able generate a healthy level of interest and Squire Hotels were given preferred bidder status on the back of their proven ability to perform having acquired two other North West of England hotels in the recent past.

“The Lake District continues to attract a substantial level of interest for both outright operational hotels together with smaller lifestyle hotels and guest houses. We are seeing an increasing amount of interest from a variety of different types of buyer coming from all parts of the UK and even further afield.”