A leading business law expert has spoken out on the strength of the commercial property market in Cumbria following the successful sale of an historic hotel once visited by Bonnie Prince Charlie.
Andrew Hill, head of corporate and commercial at the Carlisle-based legal firm Baines Wilson, was commenting after advising Lake District Hotels Ltd on the sale of the George Hotel in the Penrith to the Everbright Group.
The grade 1 listed building, where Bonnie Prince Charlie stayed on his way back from capturing the city of Carlisle in 1745, was on the market for a guide price of £2.75m.
Mr Hill said: “This deal shows that commercial property in Cumbria, hotels especially, is attractive to overseas buyers and that our commercial property market remains robust.
“We’re delighted that this well-known building in Penrith’s market square has been sold to buyers committed to maintaining its unique character and keeping its heritage alive.”
The sale was completed earlier this month by joint commercial property agents Colliers International and Knight Frank.
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