North Wales' only Holiday Inn changes hands
Specialist business property adviser Christie & Co has announced the sale of the Holiday Inn Chester West hotel.
Located on the A55 at Northop, North Wales, the 81-bedroom hotel has been sold to the Shepherd Cox investment fund via the corporate acquisition of Nite Stop Ltd from owners Styal Management.
The hotel, which was sold in excess of the £1m asking price for the leasehold interest, will continue trading under the Holiday Inn brand under license from InterContinental Group.
Jonathan Parrish, Head of Hotels – Investment at Christie & Co brokered the deal and said, “This is the only Holiday Inn serving North Wales and this particular hotel enjoys a strong base of leisure and commercial trade given the excellent location of the property.
“The Holiday Inn Chester West was making over £250,000 per annum after rent, and this provided attractive returns on investment for the new owner, Shepherd Cox.
“We are seeing a high level of interest in budget to mid-range hotels across the North West and North Wales, and we expect this to continue throughout the rest of 2016.”