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£2.75m Cumbrian hotel sold to Chinese firm

Lake District Hotels has sold The George Hotel in Penrith through Colliers International and Knight Frank to Chinese firm, Everbright Group for an undisclosed sum off a guide price of £2.75m.

The 35-bedroom hotel occupies a prominent position in the centre of the Cumbrian market town being only a short drive from the northern Lake District.

The 3-star hotel has a longstanding place in the history and tradition of the market town with popular and renowned lounges and bars.

Sold to Everbright Group, an expanding group founded in 2015, The George is its fourth hotel, and its second in Cumbria after the acquisition and full refurbishment of Stonecross Manor Hotel in Kendal 2017.

In a joint statement, Julian Troup of Colliers International and Kit Abram of Knight Frank said, “We are delighted to have completed the sale of the George Hotel to buyers who will continue to maintain the character and heritage of this attractive period property.

'The sale to a buyer with overseas connections is further evidence of rising international interest in acquiring UK hotels largely thanks to devaluation of the pound.”