Acting on behalf of the longstanding owners Penelope Thornton Hotels Ltd, Colliers International’s Hotels Agency team has sold The Riverside House Hotel, a renowned country house hotel in Ashford-in-the-water, Peak District National Park, Derbyshire, to a local unnamed buyer, off a guide price of £1.675 million.
The ivy clad Grade II listed period hotel, which is located a stone’s throw from Ashford-in-the-Water’s picturesque triple-arched bridge, was built in various stages between 1620 and 1760. It has 14 individually styled and furnished luxury bedrooms which offer views over the garden and River Wye.
The property sits within attractive grounds, whilst the accommodation includes a main bar; conservatory; the Regency Room, which has a Civil Weddings Licence; a residents lounge and two eateries including the Range Room, which offers guests a fine dining menu and the Courtyard Restaurant.
The former proprietors had owned the asset since 1997 and have spent considerable time and funds over the years developing and establishing not only the fabric of the building but the highly successful business. They have decided to sell the hotel to retire.
Julian Troup, Head of UK Hotels Agency at Colliers International, commented: “The Riverside House Hotel offers excellent potential to further expand the already successful trading business. The purchasers can take advantage of the current surge in “Staycations” and the completion of another deal proves the uplift in activity we are witnessing since the prospect of the re-opening of the hotel sector was announced. Buyers and sellers started to make a move and come out of their shells in readiness for re-opening during July 2020.
“During the past couple of months, a clear change of mood has ensued. There has been a marked pickup in activity. In the last month alone, we have seen a 200 per cent plus increase in formal viewings whilst the volume of buyer enquiries has increased exponentially from a wide variety of domestic and international enquirers.”
Will Bowler of Flint Bishop LLP solicitors who acted for the sellers commented “It was a pleasure to work alongside the directors of Penelope Thornton Hotels Ltd and assist them with this disposal. All parties were motivated to conclude the transaction as quickly and efficiently as possible, with the sale process taking just seven weeks from the point of agreeing commercial terms to formal completion. We wish both our client and the purchaser all the very best for the future.”