A Northumberland pub group has announced that it has completed the acquisition of a Lake District venue as it continues its expansion plans.
The Inn Collection Group, based in Alnwick, has acquired waterfront Lake District venue The Wateredge Inn at Ambleside.
The deal, which was completed for an undisclosed amount, was finalised today, with The Wateredge Inn becoming the group’s third acquisition in Ambleside.
The acquisition was supported by a working partnership with Colliers International who acted on behalf of the vendors and coordinated sale negotiations leading to completion.
The inn, which is the company’s first acquisition of 2021, will reopen for trading under The Inn Collection Group’s brand in line with planned lockdown restrictions lifting for indoor hospitality venues on 17 May.
Sean Donkin, managing director of The Inn Collection Group, commented: “The Wateredge Inn is a magnificent addition to our portfolio.
“We are excited to have brought this extraordinary venue into our collection as our group continues to earn its stripes for its outstanding pubs with rooms in the very best locations across the north of England.
“In the most challenging of times for the hospitality sector, it’s a real boost to have good news like this to share as the trade looks ahead to reopening in line with lockdown restrictions easing and we prepare for a predicted staycation boom fuelled by Covid uncertainties about overseas travel and Brexit.
“Our priority is identifying and sourcing remarkable venues with their own USPs. With its lakeside setting and close proximity to Ambleside, The Wateredge Inn is matchless and will be a stunning new addition to our eat, drink, sleep and explore collection.”
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