A Lake District hotel has been put up for sale for almost £1m less than last year.

Shap Wells Hotel was previously put on the market in May 2022 but failed to sell.

It has now been put up for sale again for £3m, £850,000 lower than last time.

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The hotel has 108 ensuite bedrooms as well as a 300-cover restaurant and a lounge with space for 90 people.

The three-star hotel is again being marketed by Christie & Co.

It is located in 15-acres of land between Blea Beck and Birk Beck in Penrith.

According to Christie & Co, the hotel is able to cater for weddings and also includes a gym and games room.

A statement on its Rightmove listing said: "The business has been owned by our overseas client for many years, during which time they have undertaken significant improvements and development programmes.

"The business currently trades as a full service 3 Star hotel, with a mix of corporate, private leisure trade and coaching business is further supplemented by income from the conference and banqueting facilities.

"The business has continually been operated under a full management structure and provides numerous opportunities for an ingoing purchaser to add further value, such as the further development and conversion of some of the conference and banqueting space into additional bedrooms."

Also on its Rightmove listing, Christie & Co said the hotel turned over just under £1.6m in 2022. When it was last on the market, sales were forecast to be around £2m.

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