A WELL-known businessman has said he is 'excited' to announce the purchase of a popular Cockermouth hotel.

The specialist hotels team at real estate advisors Colliers, acting on behalf of a private owner based in the Northeast of England, said it has successfully concluded the sale of the Trout Hotel, Cockermouth - the renowned AA Four Silver Star hotel - to local entrepreneur Bill Dobie.

A spokesman for the family said: "The Dobie Family are pleased and excited to announce that we have purchased the Trout Hotel in Cockermouth to expand our hotel portfolio.

"The Washington Central and Trout Hotel are both successful operations and each has its own strong teams and excellent reputations.

"Sue who has managed the Trout Hotel for 26 years remains at the helm of the Trout Hotel.

"The Dobie Family hope to continue to build on their successes. Finally we would like to take this opportunity to thank our customers and staff who have made all this possible and look forward to seeing you soon.

"Bill Dobie and family own the Washington Central Hotel, Workington and are very successful and supportive business operators."

The opportunity was confidentially launched to the market by Colliers with an asking price of £4,850,000. The sale took place at an undisclosed price.

Colliers acted for the private vendors who in recent years undertook an extensive circa £3,000,000 refurbishment programme that they say has resulted in a solid and stable trading performance. 

The deal was brokered by Julian Troup, head of UK Hotels Agency at Colliers.

Since the beginning of 2021, Colliers has sold in excess of 120 UK hotels and associated businesses to a diverse range of buyers.

The Trout Hotel occupies a highly prominent location at the heart of the popular and attractive market town of Cockermouth, located next to the National Trust building that was the birthplace of William Wordsworth and where he reputedly wrote one of his most famous poems; The Daffodil.

The hotel has traded successfully following the heavy investment undertaken by the sellers, achieving net annual revenue of around £2,600,000 during 2019.

The hotel provides outstanding facilities including 49 en-suite letting bedrooms, public areas including lounge bar, the Derwent Restaurant, Terrace Bistro and Wordsworth Suite.

Ashraf Ali of Square One Law Solicitors based in Newcastle advised the selling shareholders.