Asian investor swoops for strategically significant hotel

A Black Country hotel has been acquired by an Asian investor in a deal which further underlines the buoyant West Midlands hospitality sector.

The latest deal has seen Canada Life dispose of the Holiday Inn Birmingham – Walsall, which lies just off Junction 10 of the M6.

Specialist business property adviser, Christie & Co, sold the property on behalf of Canada Life to CL Capital, an Asian based investment fund. The value of the deal has not been disclosed.

The 156-bedroom hotel, rebranded as a Holiday Inn in 2011, has undergone extensive investment across the bedrooms and public areas and includes health and leisure facilities including a swimming pool as well as extensive conference and meeting facilities. The hotel regularly serves a number of local, regional and national clients and is popular for meetings and event functions.

Part of its appeal is that it lies in such a strategic location, just minutes off one of the busiest junctions of the M6 – a junction set to undergo a major improvement over the next few years.

Alex Campbell, director at Christie & Co, said: “The Holiday Inn Birmingham – Walsall presented an ideal opportunity for an investor or operator to acquire a freehold hotel subject to a franchise agreement with one of the world’s leading hotel brands.

“We received strong interest from domestic and international investors for the property, highlighting the demand for strongly performing hotels in the UK regional markets.”

Kew Green Hotels will continue to manage the hotel.

Canada Life was advised by Taylor Wessing. CL Capital by Proskauer Rose.