UK: Located at The Cube mixed-use development in Birmingham, the 52-bed Hotel Indigo has been acquired by Caskade Group with Bespoke Hotels taking on the management.
The deal, led by Graham + Sibbald with joint agents Fleurets, saw the hotel and Marco Pierre White restaurant listed at £12.5 million. Other amenities at the hotel include a whiskey and cocktail lounge.
First opened in 2010, the building was designed by Ken Shuttleworth of Make who’s portfolio includes the iconic London skyline feature, the Gherkin.
Hamid Ali, chief executive and chairman of Caskade Group, said: “We are delighted to be investing in Birmingham and have exciting plans for the hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer.”
Hugh Anderson, director of hotel and leisure at Graham + Sibbald, said: “It is testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham’s most iconic buildings. We have worked collaboratively with the current operators, Kroll and the purchasers to secure a sale.
“This investment represents the buyer’s commitment to Birmingham and the faith buyers still have in the hotel and leisure sector after two very tough years. The G+S hotel team nationally continue to see strong demand for quality hotel assets.”
The Cube development in Birmingham includes bars, restaurants, 135 residential apartments and 111,500 square feet of office space.
