Harrison Drury advises on acquisition of Lake District hotel
A historic Lake District hotel and spa on the shores of Windermere is set for fresh investment after being acquired by a local hospitality entrepreneur in a major off-market deal.
Beech Hill Hotel and Spa has been bought for an undisclosed sum by GGE Ltd one of group of companies owned by local businessman Richard Berry, with Harrison Drury advising Richard on the acquisition.
The 54-bedroom four-star hotel, which can trace its history back to the 19th century, has been acquired from the Richardson family who had owned and operated the lakeside venue for more than 30 years.
Richard Berry was also behind the acquisition and refurbishment of the Burnside Hotel in Bowness in 2021 and its successful rebirth as the Lakes Hotel and Spa.
He now plans to build on Beech Hill Hotel’s heritage and stunning location by undertaking a multi-million-pound refurbishment.
Richard said: “I’m pleased that the Beech Hill Hotel will be joining my hospitality business alongside the nearby Lakes Hotel and Spa. Our intentions are to spend around £4,500,000 on refurbishing and repositioning the hotel. The Lake District is a world-renowned location welcoming more than 15 million visitors a year and the Beech Hill has one of its greatest assets literally on its doorstep.”
Fraser Richardson, from the Richardson family, said: “We are proud of the business that we’ve created over the years with our management teams, the Beech Hill Hotel and its spa is a popular destination for tourists and locals alike wanting to enjoy the delights of Lake Windermere. It’s bittersweet letting go of the business now, but this is the right time for us to say goodbye.”
The corporate team at Harrison Drury, led by Mark Traynor and Kerry Southworth, advised Richard on the purchase of Beech Hill Hotel. Jennifer Potts in the firm’s commercial property team and Jamie Campbell in the employment law team also advised on the transaction. Graeme Seavor, of Seavor Chartered Accountants, provided financial advice.
Kerry Southworth, associate solicitor at Harrison Drury, said: “Beech Hill Hotel benefits from some of the best views the Lake District has to offer and I’m sure Richard and his team, with their deep experience and expertise in the hospitality sector, will be able to write another successful chapter in its history by providing new investment.
“Richard has been a longstanding client of our firm’s property team and we’re thrilled that Richard also entrusted our corporate team to assist with this latest acquisition.”
Sitting in almost three acres of private grounds the hotel which has the four-star Cumbria Tourist Board award also offers a restaurant with 90 covers, conference rooms as well as a recently upgraded spa facility including swimming pool, sauna and steam room. The established trading business generated a net turnover to year end March 2024 of £2,585,110.
The property Park, which has direct access to 65 metres of shoreline of England’s largest lake, was marketed by the specialist hotels team at Colliers led by Julian Troup.
Julian Troup, head of Hotels Agency at Colliers said: “This has been another example of our ability to handle the sales process in a highly confidential fashion. The Lake District and wider Cumbria area continue to be in high demand and the sale of Beech Hill Hotel is our 64th Cumbrian hotel sale since the beginning of 2021 and we have a number of hotels also in advanced negotiations stages with buyers. Right across the UK were in touch with a number of interested buyers for single assets as well as portfolio sales in high demand tourist destinations.”