Leicester hotel and casino sold in £8.75m deal

A 95-bedroom Travelodge hotel and adjoining Grosvenor Casino in Leicester city centre have been sold to a mystery buyer – described as a “UK family office” – for £8.75m.

Savills completed the transaction on behalf of Tritax.

The 63,000 sq ft property on Highcross Street and Vaughan Way was refurbished to the tune of £325,000 in 2014. It neighbours the Highcross Shopping Centre and includes 55 parking spaces.

Victor Ktori, head of commercial real estate at Savills Nottingham, said: “We are delighted to complete the sale of this prime Leicester City centre property which attracted robust demand driven by strong investment metrics.”

The property, which dates back to 2004, has been sold for significantly less than its original asking price of £10.2m.

Click here to sign up to receive our new South West business news...