Colony/Quidnet put York Holiday Inn on the market

By Paul Norman - Thursday, October 19, 2017 13:39

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Colony Northstar and Quidnet Capital have appointed CBRE to sell the Holiday Inn hotel in York guiding in excess of £15m.

The 2.9 acre site includes a three-star purpose built hotel includes148 bedrooms, a 160-space car park and is located next to York Racecourse,  two miles from the city centre.

The hotel, which has recently undergone a significant refurbishment, is let on a long unexpired term of 53.2 years to Kew Green hotels, which operates it under a Holiday Inn franchise agreement. Kew Green is a leading UK-based operator and the principal franchisee of Holiday Inn in Europe.

Simon Laight, Director, Portfolios and Special Situations, CBRE, said: “This is a very rare, long leased investment opportunity that will appeal to a wide range of investors from across the real estate spectrum.”

Marc Nelson, director, CBRE Hotels, said: “We are seeing a significant increase in interest for regional hotels and York is one of the best performing hotel markets in the UK. This coupled with the appeal of a long-term lease agreement we are anticipating high levels of demand.”

pnorman@costar.co.uk

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