Specialist business property adviser, Christie & Co, is delighted to announce that it acted for National Hotel Group, Peel Hotels, in the sale of its Leeds city centre property, The Cosmopolitan Hotel.
Totalling 89 guest bedrooms and with extensive ground floor lounge, bar and restaurant facilities, this freehold hotel sits in the very heart of one of the UK’s most vibrant and dynamic cities. The purchaser is newly formed Belfont Hotels which is a joint venture owned by the Thakerar and Dhamecha families.
Peel Hotels decided to sell this property to focus on its remaining hotels across the UK which has allowed Belfont Hotels to acquire its first hotel with plans to add other hotels within key cities around the UK.
Keval Thakerar from Belfont Hotels said: “We are excited to have secured such a diverse hotel as The Cosmopolitan. Leeds city centre generates such strong corporate and leisure demand across the year and, once our investment has been undertaken, we will have one of the best hospitality venues in the city.”
Akshay Dhamecha of Belfont Hotels said: “We look forward to working with the Thakerar Family on our first hotel acquisition and further growing the Belfont Hotel portfolio. The Cosmopolitan is a landmark building in the heart of the city and with further investment to the hotel, we are confident the hotel will be very popular. We are glad to have Countrywide Hotels as our management team where their experience has proved paramount.”
Jeremy Jones, head of Hotels Brokerage at Christie & Co, who handled the sale, said: “When we launched The Cosmopolitan to the market earlier this year, we received a huge response from a whole range of parties. To be announcing the sale of such a substantial hotel at this time is evidence of the very real activity Christie & Co is seeing across the whole of the UK. Watch out for the announcement of further hotel sales in the weeks ahead. We wish the team at Belfont Hotels all the very best with their first hotel.”
David Lee, regional hotel director (North East) at Christie & Co, said: “The Cosmopolitan Hotel is one of the most iconic hotels in the city of Leeds, occupying a position right in the heart of the city. The considerable interest shown in the hotel during the process demonstrates that demand for quality Hospitality assets in the Yorkshire area remains undiminished. We welcome Belfont Hotels to the city!”
The Cosmopolitan Hotel was sold at an undisclosed price.