Wed, 10 Aug 2011 | BUSINESS SALE
The Crowne Plaza hotel in Cambridge has been put up of sale as a vacant possession, after its former owner, the Quinn Group, entered administration.
The city centre hotel - which boasts 198 rooms - is being sold at a guide price of £35 million and is being marketed by Christie & Co, on behalf of administrators Grant Thornton.
The hotel is in a prime position in the university city, located within walking distance of many of the elite university's colleges, providing it with a steady clientele of parents and friends visiting the students.
The hotel also incorporates the Bloomsbury restaurant, a high-tech gym and in excess of 3,500 square feet of meeting space.
Christie & Co representative, Alex Campbell, said that a new owner would be able to take advantage of the hotel's fortunate position, which allows it to provide an ideal base from which visiting guests can explore the city.
"This, along with the limited supply of hotel accommodation in the city centre, makes the Crowne Plaza an excellent, and unique, opportunity for existing operators and new investors who are prepared to make some investment in bringing guest facilities up to modern standards," he said.
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