Wed, 07 Aug 2024 | ADMINISTRATION
A landmark hotel in Birmingham has been brought to market after falling into administration last month. The Cube Hotel comprises 52 bedrooms and employs close to 100 staff.
In addition to the hotel, the site also features a Marco Pierre White-branded restaurant with 180 covers, which was unaffected by the administration, as well as a rooftop bar and private dining and function rooms.
Richard Easterby, Andrew Andronikou and Nick Simmonds of Quantuma Advisory Ltd were appointed as administrators of MSHA Global Investments Ltd, trading as The Cube Hotel, on July 12. MHSA acquired the former Hotel Indigo two years ago in a £12.5 million deal.
The hotel and restaurant, which are situated across levels seven, 23, 24 and 25 of the Cube development, will remain open and fully trading during the sale process. Specialist advisors from Watling Real Estate and Graham + Sibbald have been engaged to seek a purchaser for the business and assets as a going concern.
Offers in the region of £12 million for the long leasehold interest in the operation are being sought by the agents.
Chris Davies, a director in the Birmingham office of Watling Real Estate, commented: "This is a rare opportunity to acquire a prime city centre hotel and well established restaurant in a landmark building."
Hugh Anderson, a partner in Graham + Sibbald’s hotel team, added: "The asset offers further branding opportunities and the potential to enhance trading significantly, capitalising on the panoramic views across Birmingham and the stunning outside terraces at level 25."
Read about the factors driving higher levels of UK hotel insolvencies
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