Former hotel goes to market with student conversion potential

Plans are already in place to transform the former hotel into a larger student accommodation scheme, subject to planning approval.

The 0.8-acre property, formerly operated as the Ramada, comprises 85 en-suite bedrooms alongside reception, bar and restaurant space, plus conference and banqueting facilities.

Specialist business property adviser Christie & Co has been appointed to handle the sale, with the freehold property being marketed at offers over £3m.

The site occupies a central position within Loughborough, close to retail and commercial businesses and existing student accommodation. Its location also provides access to Leicester, Nottingham and Birmingham, as well as the wider road network including the M1.

A rear car park provides approximately 58 spaces and is accessed through an archway beneath an adjoining property. The site also includes an enclosed courtyard featuring a fountain.

The proposed student scheme would increase the accommodation capacity to 150 bedrooms, subject to planning consent.

Matt Hill, senior business agent of hotels at Christie & Co, who is managing the sale process said: “We are exciting to be instructed to market such a well-positioned, town centre hotel. Loughborough is a vibrant University town combined with a central-of-England location and easy access to the M1.

“These factors of its size and position offers an experienced hotelier an opportunity to acquire an asset to complement any portfolio with multiple income opportunities. We have received excellent feedback to the initial marketing and would ask that any seriously interest make early direct contact with myself to express their interest”.