Comfort Inn sold for £2m plus
The Comfort Inn in Middleton, Greater Manchester has been acquired by property group Shepherd Cox from a guide price of more than £2m.
The 42-bedroom property on Manchester Old Road was sold by real estate advisory firm GVA acting on behalf of client based in South East who sold the hotel for strategic reasons with plans to grow their hotel business in other locations.
Shepherd Cox has now built up a portfolio of 18 hotels as well as other real estate investments including care homes and residential property.
Martin Davis, director of GVA’s hotel and leisure team in the North who brokered the deal, said: “The hotel is well positioned to take advantage of busy mid-week corporate trade as well as weekend leisure business.
“The deal was arranged by way of a low key, confidential marketing campaign which demonstrates the continued demand for quality hotel assets in the North of England.
“This style of transaction may be of interest to hotel owners who would like to consider selling their assets but are concerned of the effect that the process of finding a buyer may have on business.”
Nick Carlile, Shepherd Cox Company Director, said: “We are delighted to add the Comfort Inn Manchester North as the 18th hotel to our portfolio. It is well positioned and offers opportunities to increase the business through strategic occupancy and rate management.
“We are continuing our sourcing of attractive hotel assets with our agency partners.”