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£1.5m Lake District hotel sells to experienced hotelier

The Oak Bank Hotel, a traditional Lakeland hotel situated in Grasmere, one of the most sought after villages within the Lake District has been sold vua Christie & Co off an asking price of £1.5m.

Situated on the banks of the River Rothay, the Oak Bank Hotel occupies a detached, three storey property and comprises 13 en suite letting bedrooms, set across the ground, first and second floors.

Known as the home of poet William Wordsworth and famous for its unique gingerbread shop, the village of Grasmere draws in high numbers of tourists from across the UK and overseas. Ideally located, the hotel provides the perfect base for those looking to explore the surrounding lakes and picturesque fells.

Glynis and Simon Wood have owned and operated the business for the past 12 years, during which time they have transformed the Oak Bank from a 2 Star hotel into a 3 Silver Starred hotel, with 2 AA Rosettes, a Michelin Plate, and an entry in The Good Hotel Guide. They sought a sale in order to retire.

Experienced hotelier, Serena Von Der Heyde has purchased the business and is planning substantial investment in the property and employee development. She is excited to have the opportunity to build on the Wood’s excellent work and plans to rebrand and relaunch the hotel in Spring 2020.

Von Der Heyde commented, “I am very excited to be taking on a business in Grasmere, an incredible guest destination that provides many opportunities for adventurers, food fanatics and those who just want to relax and recharge in stunning surroundings. I am looking forward to releasing further details as we go into the new year.”

Alistair Greenhalgh, Director at Christie & Co handled the sale and comments, “Hotels such as the Oak Bank are in high demand, particularly in a sought after and idyllic location such as Grasmere.

'We’re delighted to have found Glynis and Simon a buyer for their business and wish them a happy retirement. Unsurprisingly, this opportunity generated interest from a number of parties and demonstrates how strong the market remains in the Lake District.”