Thu, 04 Apr 2013 | BUSINESS SALE
The Holiday Inn Express in Dundee has been sold to Birmingham-based Cannock Investment, in partnership with hotel developer and investor Hetherley Developments.
A £4.4 million price tag was placed on the building last year, but the eventual sale price has not been revealed. However, it is known that Cannock was not the only bidder and a number of other offers were put on the table.
Stephen Bantoft, chairman of Cannock, told the Dundee Courier: “Dundee has a very positive inward investment story and we are confident the hotel will provide strong returns.”
He added: “We are very confident for 2013 and hope to build on what has been an extremely good start for Hetherley.”
Glasgow-based Saltire Leisure was the previous owner of the 7,500 sq ft leisure building, which includes restaurant and retail space in addition to the 95-room hotel. But the company entered administration last year and while the companies occupying the site continued to trade unaffected, a sale was required.
Dundee's hospitality sector has seen a fair deal of activity in recent months, including the opening of a new Malmaison leasehold hotel in September as part of the company's expansion plans.
____________________________________________________________________________
Related articles:
Malmaison and Hotel du Vin to expand under new ownership
Profit from buying a distressed business
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
10
|
Dec
|
Holiday Inn Express Liverpool hits the market for £3.5m | COMMERCIAL PROPERTY
The Holiday Inn Express Liverpool in Hoylake, Wirral has bee...
12
|
Sep
|
Three Aberdeen businesses go into administration | ADMINISTRATION
Three hospitality and leisure venues in Aberdeen have been p...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.