The Cube’s Hotel Indigo sold to Caskade Group
The Cube’s Hotel Indigo has been sold to the Caskade Group, with a listing price of £12.5m.
With 52 rooms, a Marco Pierre restaurant and an exclusive whiskey and cocktails lounge, the location has become a destination for many, with panoramic views of the city.
Opened in 2010, the building was designed by Ken Shuttleworth of Make, whose portfolio also includes the Gherkin.
Graham + Sibbald, with joint agents Fleurets, led the sale.
Hugh Anderson, the director of hotel and leisure at Graham + Sibbald said: “It is testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham’s most iconic buildings. We have worked collaboratively with the current operators, Kroll and the purchasers to secure a sale”.
“This investment represents the buyer’s commitment to Birmingham and the faith buyers still have in the hotel and leisure sector after two very tough years. The G+S hotel team nationally continue to see strong demand for quality hotel assets”
The Cube also includes bars, restaurants and several leisure uses, including a 10-pin bowling centre. It also has 135 residential apartments, extensive underground car parking and 111,500 sq ft of office space.
Hamid Ali, CEO and Chairman of Caskade Group said: “We are delighted to be investing in Birmingham and have exciting plans for the Hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer”.