Holiday Inn York on sale for £15m

Colony NorthStar and Quidnet Capital are inviting offers of more than £15m for the Holiday Inn hotel in York.

The 148-bedroom hotel, which recently had a £1.2m refurbishment, is let on a long unexpired term of 53.2 years to Kew Green hotels, which operates it under a Holiday Inn franchise agreement.

Kew Green acquired the leasehold through the LRG Acquisition sale of 21 Holiday Inn hotels. Colony and Quidnet acquired the freehold of the hotel in an unrelated portfolio transaction in 2014.

CBRE is marketing the property, situated next to York Racecourse and less than two miles from the city centre, on behalf of the real estate investment and asset management companies.

Simon Laight, director of portfolios and special situations at CBRE, said: "This is a very rare, long-leased investment opportunity that will appeal to a wide range of investors from across the real estate spectrum."

Portfolio of 21 Holiday Inn hotels go up for sale >>

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