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17 July 2019 | Hotels

Coventry branded hotel for sale as part of pan-European portfolio through Christie & Co

Specialist business property adviser, Christie & Co has brought to the market the Première Classe Coventry North, as part of a wider Pan-European group of eight hotels, on behalf of leading European operator, Louvre Hotels Group.

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The 48-bedroom Première Classe Coventry North comprises a bar and conference rooms for 25 people, plus a terrace. Upon completion of the required rebrand the hotel will operate under Louvre Hotels Group’s Kyriad Direct brand.

The hotel is located within 15 minutes of Coventry city centre and in close proximity to a number of amenities and attractions, including a shopping and entertainment centre, Ricoh Arena, the National Exhibition Centre and Birmingham International Airport. Easily accessible via the M6, which links to major towns including Rugby, Leicester and Warwick, Première Classe Coventry North mainly caters to leisure guests.

Joshua Sullivan, Senior Business Agent at Christie & Co comments, “The hotel presents a unique opportunity for an established operator or first-time buyer with experience in the sector to acquire a fully serviced hotel operation with a value-add proposition. The Première Classe Coventry commands a strong position on the fringes of Coventry city centre, whilst being in close proximity to several major transport links including the M6 motorway via the A4600.”

“Coventry city centre has significantly benefitted from a regeneration programme fuelled by the growth of the university, attracting substantial overseas investment from East Asia. Similarly, Coventry has been voted as the UK City of Culture of 2021. Evidently, both elements will have a positive influence on the hotel and the business for investors in the future.”

“The Première Classe Coventry has performed well over the past few years, boasting strong occupancy levels and a consistent ADR. Crucially, we envisage that the business will once again perform well in 2019.”

The Première Classe Coventry is available on a long-term lease with 94 years remaining and subject to a sale and franchise back. Christie & Co is inviting offers for the individual assets, sub groups or the whole portfolio.

For further information on all the sites, please contact Joshua Sullivan on Joshua.Sullivan@christie.com or +44 121 227 4268.