Ravenstone Hotel For Sale

Business description

Offers Around: £1,700,000 Freehold

Landmark hotel with elevated site on A road overlooking Bassenthwaite Lake and fells. 20 en suite bedrooms, lounge, bar and restaurant (40). 2 S/C cottages and owners' 2 bedroom accommodation. Healthy profits from net t/o £428,787. Ravenstone Hotel was built in 1860 as the dower house for Greystoke Castle for Lady Charlotte Howard. The property remained in private hands for nearly 100 years during which time it was substantially extended which included the superb large Gentleman's games room built by the Peel family in 1930. With 17 of the 20 bedrooms being front facing and therefore having glorious views, it was an obvious move to become a hotel in the 1950s since when it has been steadily upgraded to combine the very best of modern touches with period Victorian features. Ever since the days of the early travellers in the 17th Century, the impressive array of fells, valleys and lakes that surround Keswick and the northern lakes have been praised and described in words and pictures by the artistic figures of the time from Coleridge and Southey to Beattrix Potter and Alfred Wainwright. With its stunning elevated position commanding outstanding views over Bassenthwaite and the surrounding fells, Ravenstone Hotel is at the heart of the area. Keswick is only 4 miles away and is located on the shores of Derwentwater in the jaws of the Borrowdale Valley. Further afield lies the oftforgotten lakes of Buttermere, Crummock and Loweswater in some of the Lake District's most stunning scenery while further to the west lies Cockermouth - birthplace of Wordsworth - and the Georgian former seaport of Whitehaven now with its bustling marina, all of which are within easy reach of Ravenstone Hotel making it an ideal place to stay. Ravenstone Hotel was acquired by the present owners in 1999 and during their ownership they have substantially invested in this lovely hotel. 15 of the en suite bathrooms have been upgraded or improved, the residents' lounge and restaurant have been refurbished and the carpets and soft furnishings have been replaced throughout. Work on the new self catering cottage has only just been completed in 2008 and has yet to show in the current accounts where there is still substantial growth potential. However, having enjoyed their time at Ravenstone Hotel the owners are now to retire from the business.

THE PROPERTY
Ravenstone Hotel is predominently stone built with pitched slate roof and some flat roofs. The accommodation is laid out on ground and first floors.

PUBLIC AREAS
Reception hall, being L-shaped and leading to the reception area with small office to the rear. Restaurant to seat 40, a lovely spacious room divided into three separate areas and offering spectacular fell and lake views. Residents lounge is a delightful character room with original fireplace being a replica of the one in Greystoke Castle. Shuttered bay window. Bar with beamed ceiling and feature serving area and stone fireplace. The games room is particularly spacious and Lshaped. Traditional oak floor and full size snooker table as well as pool and table tennis.

LETTING BEDROOMS
20 Letting Bedrooms to sleep 39 (13 double, 4 twin, 2 single and 1 family room). 7 of the letting bedrooms have en suite shower rooms while the remaining have en suite bathrooms. There are two four-poster rooms. All letting bedrooms have central heating radiator, colour television, radio/clock alarm, hairdryer and tea and coffee making facilities.

SELF CATERING COTTAGES
Trusmador This is a separate, detached cottage formed from the former garage/workshops. Living room with separate kitchen area and a full range of kitchen units. French windows to the garden. Double bedroom and bathroom with whirlpool bath and separate shower. The cottage has its own paved patio area. Ravenstone Cottage Separate self contained flat comprising lounge, kitchen with a full range of modern units and 2 double bedrooms and bathroom.

OWNERS' ACCOMMODATION
The resident owners have the benefit of their own accommodation which comprises lounge, double bedroom with en suite bathroom with whirlpool bath and separate shower room. Second bedroom and loft playroom.

SERVICE AREAS
Spacious catering kitchen being L-shaped and having a range of fitted units. Non-slip floor. Wash-up with non-slip floor and fluorescent lighting. Wine Cellar. Staff changing room and WC. Boiler/drying room. Chef's office. Freezer room. Tool store/workshop, garage and store/playroom.

OUTSIDE
Tarmac driveway leading to excellent parking facilities to the front and sides. Mature landscaped gardens particularly to the rear of the hotel.

SERVICES
Allerdale District Council at Workington. Mains electricity. Private drainage and water. LPG fired central heating. Self catering cottage has a separate LPG ''combi'' boiler to the underfloor central heating.

2008 LISTINGS
AA - 2 Star (81%) AA Guide Cumbria Tourism Guide Keswick Tourism Assoc. Guide

TRADE
Certified accounts from the owner's Chartered Accountants in the form of a Trading and Profit and Loss Account show trading profits of £87,626 (before finance costs and depreciation) for the year ended 31 March 2008 on net turnover of £428,787.

PRICE
Offers around £1.7m are invited for the freehold complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.