Lake District guest house snapped up by Indian investors

The eight-bedroom Grizedale Lodge guest house in the heart of the Lake District has been acquired by India-based hotel investors Paramount United.

The property, which is located between Lake Windermere and Coniston Water in Grizedale Forest near Hawkshead, Cumbria, has been sold off a guide price of £1.1m by Richard and Deborah Charley, who are now retiring.

Paramount United is owned by Gokul and Rashida Jaykrishna from Ahmedabad. They operate similar properties in mainland Europe and north America.

The business, which was marketed by property agent Colliers International, includes owners' accommodation with three bedrooms.

Haydn Spedding, associate director at the Manchester Colliers office, said: "We believe this represents our first sale of a Lake District guest house to an Indian investor.

"The acquisition highlights the increasing appeal of the region to international investors following it being awarded World Heritage Status by Unesco."

He added that the Jaykrishnas had not confirmed their plans for Grizedale Lodge, but said they had been attracted to the property and location partly because it was the type of place "where they like to spend time themselves".

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