West Yorkshire hotel sold to award winning property group
Specialist business property adviser, Christie & Co has completed on the sale of The Premium Inn in Castleford, West Yorkshire to award winning property group, Priestley Group, with plans to develop the site for mixed use.
The hotel comprises 20 en suite bedrooms, a contemporary pub and restaurant with a central bar and seating for 75 guests, two function rooms available for private dining and corporate events, with the added benefit of a beer garden. Additionally, there property also maintains a commercial catering kitchen, storage facilities, parking, plus manager’s accommodation.
Situated within easy reach of the M62 motorway, providing access o the national motorway network, The Premier Inn is ideally located nearby attractions, including Diggerland, Whitwood Golf Course and the Xscape Yorkshire leisure complex, making the hotel ideal for overnight stays for visitors to the area.
Previous owner, Kyle Bird comments, “I am glad to have appointed Sam Ashton of Christie & Co as selling agent for my property. We managed to achieve asking price through the new owner and after many legal complexities, I am glad to have sold the property on at last.”
Nathan Priestley of Priestley Group comments, “We are excited to finally complete on the deal which is to be retained long term within our investment arm. The hotel is in fantastic condition so this will be operated as is from day one. The unused pub and restaurant will eventually be converted to form high end serviced offices.”
Sam Ashton, Business Agent at Christie & Co handled the sale and comments, “The Premium Inn achieved lots of interest as the buyer pool was certainly varied to say the least, ranging from pub operators, development buyers and commercial office buyers throughout the marketing campaign. We are pleased to have concluded the sale with a great result – it was a pleasure to work with Mr Bird and Mr Priestley.”
The Premium Inn was sold freehold off an asking price of £395,000.