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Lake District hotel bought by Chinese investor for nearly £1 million
2:26pm Tuesday 11th February 2014 in News
A LANDMARK Lake District hotel has been sold to a Chinese investor for almost £1m.
Tong Zheng from Beijing bought the Keswick Park hotel in the heart of Keswick from owners Don and Tracey Rogers who are retiring from the hotel trade to live locally.
Agents Colliers International, Manchester, said the deal ‘shows increasing interest in quality hotel assets outside London’ for overseas investors.
The hotel, which dates back to 1880, achieved a figure close to its £995,000 asking price. It offers 16 en-suite letting bedrooms, a conservatory-style restaurant with 24 covers and two-bed owners’ flat.
It has been closed for refurbishment and Mr Zheng plans to reopen the business for the Easter holiday period.
Haydn Spedding, associate director for Colliers Hotels, said: “Mr Zheng is indicative of an increasing number of quality overseas buyers looking to acquire hotels such as Keswick Park as investor interest moves outwards from London to other popular destinations such as the Lake District and major cities, including Manchester.”
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