Northern Powerhouse Developments' Gilsland Hall on the market for £1.55m

Gilsland Hall hotel in Cumbria has been put up for sale with an asking price of £1.55m, following the appointment of administrators to Northern Powerhouse Developments.

The group was established to invest in the leisure and tourism industry, with investors forward-buying rooms in hotels and their cash used to purchase and develop the properties.

Last month Gilsland Hall was placed in administration along with Caer Rhun Hall in Conwy, Fourcroft hotel in Tenby, Pembrokeshire, and the Esplanade in Scarborough, North Yorkshire.

The 93-bedroom hotel is being marketed by Christie + Co on behalf of administrator Daniel Richardson of CG & Co. It includes a restaurant that can cater for 260 guests along with an orangery and seven external buildings.

Christie & Co director Mark Worley said: "This is an excellent opportunity for a hotel operator to obtain a large country house hotel with massive scope to increase trade and profits. The asking price is expected to generate significant interest from a range of potential buyers."

Philip Duffy and Sarah Bell of Duff & Phelps were appointed interim managers of parent company Northern Powerhouse Developments in July. At the time Duffy said the appointment was to "secure the assets of the company while enabling a detailed assessment and forensic investigation into where many millions of pounds have gone".

The Guardian and ITV published an investigation in June into the finances of chairman Gavin Woodhouse's companies and the departure of two of Northern Powerhouse Developments' advisers: HVS London chairman Russell Kett and former Center Parcs managing director Peter Moore.

Following its publication the group issued a statement saying it "strenuously denies any wrongdoing" and "will regroup, take advice from a range of specialists, including insolvency practitioners, and work to ensure its long term future".