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PRIVACY
Commercial Property

Northumberland pub company The Inn Collection Group acquires seventh Lake District venue

The acquisition of the Wateredge Inn at Ambleside is the equity-backed firm's latest acquisition

The Wateredge Inn in Ambleside(Image: handout from Inn Collection)

Growing North East leisure business the Inn Collection Group has added to its pubs-with-rooms portfolio with its seventh Lake District acquisition.

The company, which has its headquarters in Alnwick, Northumberland, has bought the 38-bedroom Wateredge Inn at Ambleside for an undisclosed sum – its third venue in the picturesque Cumbrian town and its 20th property overall.

The deal comes on the back of the company securing a further £23.2m in funding from its backers, as revealed in accounts published earlier this month, as it looks to add more properties to its rapidly expanding stable of leisure venues in its three key areas of the North East, Yorkshire and the Lake District.

The landmark Wateredge Inn, which fronts on to Lake Windermere, is the Inn Collection Group’s first purchase of 2021 and further broadens its customer base in Cumbria ahead of the predicted post-lockdown º£½ÇÊÓÆµ staycation surge.

The Alchemy-backed group, whose strategic ‘buy and build’ freehold growth plans are supported with banking from OakNorth, also has Ambleside sites The Ambleside Inn and The Temperance Inn (formerly Churchills Inn) as well as The Angel Inn at Bowness on Windermere, The Coniston Inn at Coniston, The Swan at Grasmere and The Pheasant at Bassenthwaite.

The Inn Collection Group’s managing director Sean Donkin said: “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.”