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Lake District hotel becomes third acquisition for South African firm

The iconic four-star Daffodil Hotel & Spa has become the third landmark hotel purchased by South Africa-based Fairtree Alternative Real Estate, backed by Blantyre Capital.

This latest purchase joins luxury Scottish hotels Fonab Castle Hotel and Dunkeld House in Perthshire, which were bought earlier this year.

Located on the fringe of Grasmere Village with views over Lake Grasmere to the fells beyond, the Daffodil Hotel & Spa is one of the leading, independently-owned four-star hotels in the north west of England.

Set in around nine acres of landscaped gardens and woodland, it offers 78-luxury bedrooms, high-quality bars, function facilities and the Spa at the Daffodil leisure facility.

Joe Bester, Portfolio Manager at Fairtree, said, “We’re pleased to announce our latest acquisition with Blantyre as we curate our UK luxury leisure portfolio. Daffodil Hotel & Spa is a premium leisure destination in a stunning popular location which attracts visitors from across the globe with significant opportunities for adding value and improving the offering.”

Johann Scheid, Investment Executive at Blantyre, added, “We are excited to back Fairtree, our experienced UK leisure hotel operating partner in their value-add UK leisure platform with the possibilities of expanding in a market with attractive staycation tailwinds.”

Julian Troup at Colliers, who advised the vendors, noted, “This is a significant individual hotel sale in the Lake District and reflects strong future demand from customers keen to holiday in the Lake District. We’ve advised on 37 transactions in this region since the beginning of last year.

“It’s a strategic addition to the fund’s growing value-add portfolio operated by the Fairtree Hotel Management team of select luxury UK hotels and it’s notable that this sale coincides with the fifth anniversary of the Lake District acquiring its UNESCO World Heritage Site status.”