Specialist business property adviser, Christie & Co, has brokered the sale of Best Western Plus Milford Hotel & Watermill Restaurant in Peckfield, Leeds, to Compass Hospitality.
The previous owner-operator had run the 46-bed hotel and restaurant for over 20 years and was looking to retire. Compass Hospitality, a group which runs several hotels throughout the UK and Asia, bought the hotel for over the guide price of £2.6m.
Ryan Lynn, associate director at Christie & Co who handled the sale, said: “We are delighted to continue to help Compass Hospitality expand their operation in the UK having assisted them with other hotel purchases across the country.
“This shows that international operators are still looking at the UK as a prime location for investment and many have plans to expand their existing portfolios.
“We are continuing to see a strong level of interest in high quality hotels across the north of England from a range of potential buyers. Leeds and Manchester are particularly popular locations for both corporate entities and individuals with foreign and domestic backgrounds, with purchasers apparently unperturbed by the loom of Brexit.
“We thoroughly enjoyed working with the previous owner and are delighted to have achieved such a strong result. We wish them all the best in their well-earned retirement.”