Fairtree acquires Lake District's Daffodil Hotel

Fairtree Alternative Real Estate has acquired the four-star Daffodil Hotel & Spa in the Lake District for an undisclosed price.

The Daffodil Hotel is independently-owned and overlooks Lake Grasmere, offering 78 bedrooms, as well as bars, function and leisure facilities.

This marks Fairtree's third purchase of the year, following on from Scottish hotels Fonab Castle Hotel and Dunkeld House in Perthshire.

The acquisition was advised by Fairtree's investment partner Blantyre Capital Limited.

Julian Troup from Colliers, who advised the vendors, said: "This is a significant individual hotel sale in the Lake District and reflects strong future demand from customers keen to holiday in the Lake District. We've advised on 37 transactions in this region since the beginning of last year.

Joe Bester, portfolio manager at Fairtree, added: "We're pleased to announce our latest acquisition with Blantyre as we curate our UK luxury leisure portfolio. Daffodil Hotel & Spa is a premium leisure destination in a stunning popular location which attracts visitors from across the globe with significant opportunities for adding value and improving the offering."

Johann Scheid, investment executive at Blantyre, said: "We are excited to back Fairtree, our experienced UK leisure hotel operating partner in their value-add UK leisure platform with the possibilities of expanding in a market with attractive staycation tailwinds."

Legal advice for the selling shareholders was provided by Keith Melling and Wendy Keely of Napthens Solicitors.