A Lake District guest house has been sold to a business based in India by Colliers International from an asking price of £1.1m.
Grizedale Lodge in Grizedale Forest near Hawkshead, Ambleside has been taken over by to Paramount United Ltd, which is owned by Gokul and Rashida Jaykrishna from Ahmedabad. This new purchase adds to the firm's estate of similar properties in continental Europe and North America.
Located between the visitor hotspots of Lake Windermere and Coniston Water, Grizedale Lodge is a former hunting lodge with eight individually styled en-suite bedrooms, three-bedroom owners’ accommodation, gardens and car parking.
Haydn Spedding, associate director, hotels agency at the Manchester office of Colliers, achieved the sale on behalf of retiring owners Richard and Deborah Charley, and said, “We believe this represents our first sale of a Lake District guest house to an Indian investor.
“The acquisition highlights the increasing appeal of the region to international investors following it being awarded World Heritage Status by Unesco and an important place in which to invest outside of London and the South East of England.”
Spedding said Mr and Mrs Jaykrishna had not confirmed their plans for Grizedale Lodge but understood that its appeal and that of the Lake District was based partly on the type of place “where they like to spend time themselves”.
