Law firm Baines Wilson (a BECBC member) has advised Lake District Hotels Ltd on the sale of the George Hotel in the centre of Penrith. This grade 1 listed building, where Bonnie Prince Charlie stayed on his way back from capturing the city of Carlisle in 1745, was on the market for a guide price of £2.75m.
In a deal that reflects the growing international interest in the UK property market, the hotel was sold to Everbright Group.
Andrew Hill, head of corporate and commercial at Baines Wilson, commented “This deal shows that commercial property in Cumbria, hotels especially, is attractive to overseas buyers and that our commercial property market remains robust.
“We’re delighted that this well-known building in Penrith’s market square has been sold to buyers committed to maintaining it’s unique character and keeping its heritage alive.”