THE freehold of The Midland Hotel in Morecambe has been sold for an undisclosed sum by Urban Splash to The Lancaster Foundation.
The foundation is a North West charity based in Clitheroe. English Lakes will continue to operate the hotel under a lease arrangement.
Chris Richardson of The Lancaster Foundation commented: “We are delighted to invest in this great hotel. We believe with our commitment to the property and English Lakes Hotels management the hotel will go from strength to strength”.
Tom Bloxham, Chairman of Urban Splash said “We are very proud of the Midland Hotel and all that has been achieved since it opened in June 2008. The Midland Hotel is a much loved building, and it was a joy for us to be able to restore and reopen this iconic hotel once again.
“We have sold the freehold to the Lancaster Foundation in an off market transaction. The sale shows that there is a demand for quality Urban Splash assets”.
“This sale completes phase one of our development in Morecambe and we are now concentrating our efforts on securing planning for phase two of the proposals on the adjoining site”.