The Inn Collection Group has added a new business to its group of Cumbria hospitality establishments.

The group has announced the acquisition of the premium waterfront Lake District venue The Wateredge Inn at Ambleside.

The undisclosed deal for the 38-bedroom site was finalised on Wednesday, with The Wateredge Inn becoming the group’s third venue in the destination town.

Its acquisition broadens the group’s customer base in Cumbria further ahead of the predicted post-lockdown UK staycation surge, taking the northern pubco’s Lake District estate to seven.

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.”

EXCITED: Managing director Sean Donkin says agreement is magnificent

EXCITED: Managing director Sean Donkin says agreement is 'magnificent'

Julian Troup, head of hotels agency at Colliers International, said: “The Wateredge Inn is probably the best located inn in the region, enjoying an outstanding lakeside position at Waterhead Bay and on the fringe of Ambleside and we received keen competitive interest after being instructed to go confidentially to the market and approach a target list of active buyers.”