Buyer sought for a Holiday Inn Express hotel

The Holiday Inn Express, in Wakefield, has been placed on the market.

The modern, purpose-built property is being marketed off an asking price of £4,950,000 on a long leasehold basis.

Specialist business property advisor, Christie & Co, which is dealing with the sale, says the hotel attracts a significant amount of leisure and business travellers.

It is less than half a mile from the mainline East Coast station which connects Wakefield to London and is also close to the Ridings Shopping Centre, along with a range of other shops, bars and restaurants within immediate proximity.

The property currently trades as a budget service hotel and comprises 81-bedrooms across seven floors, a ground level lounge, and a restaurant and bar open to both hotel and public guests.

Meetings and events spaces are available on site, which drives corporate trade to the hotel during the week.

Christie & Co is selling the property on behalf of the Cairns Hotels Group, which owns a number of hotels across the country. The group has made the decision to sell the property as part of a business restructure.

The owners have carried out numerous improvements to the hotel, including a refurbishment to the bedrooms and common areas. Anyone who acquires the hotel will have the benefit of a franchise agreement under Intercontinental Hotel Group (IHG) with Holiday Inn Express.

Ryan Lynn, director of corporate hotels at Christie & Co, who is handling the sale, said: “We’re very pleased to be working with the Handa family once again and anticipate the opportunity will be well received by the market.

“The hotel is currently trading strongly under the Holiday Inn Express branding and is in a great location in the centre of Wakefield. The UK hotel market is currently very active with both UK and overseas buyers seeking high quality opportunities and we believe the hotel fulfils many of their criteria.”

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