Businessman acquires 86-bed city hotel
Bradford’s 86-bed IBIS Budget Hotel, which opened in 2008, has been sold.
Specialist business property advisor, Christie & Co, has confirmed completion of the sale of the property in Canal Road, to the north of the city centre.
The purpose-built hotel operates under a long-term franchise agreement with hotel group Accor Hotels, under its Ibis Budget brand. Since opening, it has been owned and managed by Bradford Prince Court Limited.
The company decided to bring the hotel to the market through Christie & Co, as it no longer fit its future investment strategy.
Bradford IBIS Budget was sold on a freehold basis, off a guide price of £1,950,000.
It has been purchased by Ali Sadrudin, a businessman who operates a motorway service station and comes from a family with hotel experience.
He said: “I am very pleased with this acquisition and I look forward to taking the hotel to the next level.”
David Lee, regional hospitality director at Christie & Co, who brokered the sale, said: “Hotels with an income that is predominately from room sales are always popular and this particular property has a lot of potential with a more hands-on approach.”
