Tue, 01 May 2012 | COMMERCIAL PROPERTY
A hotel has been put on the market in Hartlepool, but its owners are insisting that business is still good and the sale is simply to “test the market”.
The Best Western Grand Hotel has a restaurant, bar, conference and banqueting facility and a ballroom, which the selling agents describe as 'the most impressive room in the hotel'.
An asking price of £2.5 million has been put on the property, but Keith Donkin, director of the owners of the hotel Tavistock Leisure, stressed that it is still “business as normal”. Speaking to the Hartlepool Mail, he added that the property was “performing well”, noting that the 50-room property has an average occupancy of 72 per cent during the week, rising close to 100 per cent on weekends.
Mr Donkin elaborated: “We bought the Grand Hotel and invested £1 million in it, and got it into a strong position which it is now. The reason we have put it up for sale is to continue with the business model which is buying failing sites and refurbishing them, selling them on and moving on to the next one.”
The building itself was constructed in 1899 and has previously been owned by North Eastern Railway, West Hartlepool Hotels and Consort, the UK's largest group of independent hotels. Tavistock Leisure took over in 2007.
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