Columbia Threadneedle has put the Holiday Inn Express hotel at Manchester Airport up for sale for £12.5m+.
Columbia Threadneedle has put the Holiday Inn Express hotel at Manchester Airport up for sale for £12.5m+.
The hotel, which benefits from a long leasehold of 263 years, comprises 199 en-suite rooms, a guest lounge, a restaurant and bar and 158 on-site parking spaces.
There is potential for a prospective buyer to refurbish the hotel bedrooms and public spaces to enhance the property to a Generation 5 standard.
There is also an opportunity to increase the room count by 79 keys with the addition of a four-storey extension, for which planning permission was granted in 2019.
Henry Jackson, head of hotel brokerage at Knight Frank, which has been appointed to market the opportunity, said: “The investment case for the Holiday Inn Express at Manchester Airport is incredibly strong, with the hotel already operating as a high revenue business. We are of the opinion that the site will be of particular appeal to existing owner operators or new entrants to the market. The wider plans to expand the operations at Manchester Airport, coupled with the potential to extend and refurbish the hotel, creates a superb opportunity for a buyer enhance the profitability of the site and generate an attractive return on investment.”
The hotel, which benefits from a long leasehold of 263 years, comprises 199 en-suite rooms, a guest lounge, a restaurant and bar and 158 on-site parking spaces.
There is potential for a prospective buyer to refurbish the hotel bedrooms and public spaces to enhance the property to a Generation 5 standard.
There is also an opportunity to increase the room count by 79 keys with the addition of a four-storey extension, for which planning permission was granted in 2019.
Henry Jackson, head of hotel brokerage at Knight Frank, which has been appointed to market the opportunity, said: “The investment case for the Holiday Inn Express at Manchester Airport is incredibly strong, with the hotel already operating as a high revenue business. We are of the opinion that the site will be of particular appeal to existing owner operators or new entrants to the market. The wider plans to expand the operations at Manchester Airport, coupled with the potential to extend and refurbish the hotel, creates a superb opportunity for a buyer enhance the profitability of the site and generate an attractive return on investment.”