UK: The 140-bed Hilton Avisford Park in Arundel is up for sale on behalf of Albitar Business Corporation at a guide price of £10.5 million.
The hotel comprises 140 ensuite bedrooms (split between two buildings), 15 meeting rooms, a bar and restaurant, and approximately 270 car parking spaces.
There’s also a health club with both an indoor and outdoor pool. The club has access and use of the Avisford Park Golf Club.
Currently, the hotel is held on a long leasehold for 999 years commencing 1 March 2001. It is subject to an operational lease to Hilton for 20 years, terminating 31 December 2021.
Property consultancy Knight Frank is marketing the property.
Henry Jackson in Knight Frank’s hotels team, said: “The hotel provides an incoming purchaser with an established business with considerable business drivers in the area, covering both the corporate and leisure markets. The hotel will have potential branding opportunities and this coupled with the long-term development angle of the site, makes it an exciting investment opportunity.
“We have seen a significant growth in demand for well-located regional hotel assets which benefit from UK domestic “staycation” business,” he added. “There remains limited stock in the market and market sentiment remains positive. Whilst there continues to be concerns about traveling abroad, we expect regional hotels to benefit from a positive trading environment with F&B departments operating at increasing capacities as the restrictions are lifted.”