Specialist business property advisor, Christie & Co has exclusively brought to the market, the Holiday Inn Express Wakefield, West Yorkshire.
The hotel is located in a prominent location in the center of Wakefield city, an area which attracts a significant amount of leisure and business travellers, given its close proximity to Leeds and surrounding smaller towns. Less than half a mile walk from the mainline East Coast station which connects Wakefield to London in less than two hours and close to the Ridings Shopping Centre, along with a range of other shops, bars and restaurants within the immediate proximity, the hotel is the ideal location for leisure guests staying in the area.
The modern purpose-built property currently trades as a budget service hotel and comprises 81-bedrooms across seven floors, an attractive ground level lounge, and restaurant and bar open to both hotel and public guests. Meetings and events spaces are also available on site, which drives corporate trade to the hotel during the week. The property benefits from operating as a Holiday Inn Express branded property, with support from Intercontinental Hotel Group (IHG).
Christie & Co are selling the property on behalf of the Cairns Hotels Group, who own a number of quality 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. There remains further opportunity for an incoming purchaser to add value to the business and align the property with the latest generation of the Holiday Inn Express brand.
The sale of Holiday Inn Express Wakefield presents a unique opportunity to acquire an attractive property unencumbered of management and with the benefit of a franchise agreement under 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 that 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 that the hotel fulfils many of their criteria.”
Holiday Inn Express is currently being marketed off an asking price of £4,950,000 on a long leasehold basis.