Blackpool hotel sold for about £2.3m

THE Blackpool seafront Hotel Sheraton has been sold for an undsiclosed sum from a guide asking p[rice of £2.3m.

The 126-room property on the Queens Promenade has been owned and operated by the McPhee family for 50 years and has been snapped up by experienced hoteliers Nigel Seddon from the nearby Elgin Hotel.

Christie & Co’s Manchester office handled the sale. Director Martin Davis said: “It was a pleasure to deal with the sale of this popular hotel; Mr Seddon recognised a unique opportunity to acquire this substantial freehold property which enjoys a prime trading location in one of the UK’s most popular resort destinations. We wish the Seddon’s the very best for what promises to be a most exciting future for the Sheraton Hotel and its staff.”

“This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels.”