Cannock’s Orbital Plaza up for sale

THE Orbital Plaza development in Cannock has been put up for sale by its owner The Pritchard Group.

Offers in excess of £5.75m are invited for the mixed-use development. Property advisor GVA has been appointed to seek a purchaser.

Situated adjacent to the M6 Toll Road, Orbital Plaza features one of the most instantly recognisable buildings in the area, the 13-storey Lion Point, currently home to a 95 bedroom Ramada hotel.

Occupying a site of around 2.17 acres, the development includes two additional detached buildings – Watling Court and Bridge Court – which feature ground floor commercial accommodation, with serviced apartments and offices above.

James Williamson, director with GVA’s hotels and leisure team, said: “This is an exciting opportunity to acquire an iconic multi-use asset in an exceedingly prominent location. 

“Orbital Plaza offers a mix of stable income streams that will appeal to a broad range of purchasers keen on proactively managing their property investments.

“As a mixed use development, Orbital Plaza has been very successful, with occupiers in all but one of the ground floor commercial units and strong demand from business tenants for lets of up to six months in the serviced apartments.”

Charles Tippet, chief executive of The Pritchard Group, said: “The Pritchard Group created this landmark hotel and complex in 2006 and has successfully worked up the asset which is achieving strong occupancy across the hotel, residential and commercial units. 

“We now feel that it is timely to sell the complex to a party keen to guide it through its next phase of asset management.”