The Quinion family, who have owned and operated the three-red-AA star, 12-bedroom hotel near Brampton, Cumbria, since June 1975, are to retire.
Located within six acres of gardens, the Victorian hotel has been a member of sales and marketing consortium Relais & Chateaux for 31 years and appeared in the Good Food Guide for 38 years.
It comprises the main hall, Laundry Cottage (two-bedroom bungalow used as a holiday let) and Stable House comprising three self-contained spacious cottages), which can be purchased as a whole of separately. There is lapsed planning permission to convert the outbuildings into further letting rooms, should this be required by the new owners.
Barry Quinlon, who is 65 in two years' time, oversees the kitchen, while his wife Lynne and sister Helen run the front-of-house. The hotel currently boasts two-AA-rosettes.
Lynne Quinlon said that being both owner and operator has increasingly become a rarity among hoteliers. "We still very much enjoy what we do, but we're starting now to think about the future.
"We're very fortunate as we are still very busy and have lots of return guests. Our biggest success has been maintaining consistency over many years while ensuring our staff, our customers and ourselves have remained happy."
Mark Worley, who is handling the sale with Mike Booth of Christie + Co's Newcastle and Manchester offices, said the sale of Farlam Hall is an "unmissable opportunity" to acquire a high quality hotel with a profitable trading profile and stellar reputation.
"The demand for high-quality provincial UK hotels is tremendous and we anticipate that interest for Farlam Hall will be high."
Farlam Hall is located close to the Scottish Borders, Lake District, and Hadrian's Wall Site.
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