October 30 2014 Latest news:
Shaun Lowthorpe, Business editor
Thursday, May 29, 2014
A Norwich Holiday Inn hotel is among 21 being put on the market as investors seek to raise more than £70m from a sale.
• Holiday Inn Colchester
• Holiday Inn Ipswich
• Holiday Inn Norwich
• Holiday Inn Ashford, Kent
• Holiday Inn Rochester
• Holiday Inn Birmingham (M6 J7)
• Holiday Inn Stoke-on-Trent (M6 J15)
• Holiday Inn Chester South
• Holiday Inn Haydock (M6 J23)
• Holiday Inn Lancaster
• Holiday inn Runcorn
• Holiday Inn Warrington
• Holiday Inn Derby/Nottingham
• Holiday Inn Rugby/Northampton
• Holiday Inn Taunton (M5 J25)
• Holiday Inn Swindon
• Holiday Inn Leeds Brighouse
• Holiday Inn Leeds/Wakefield (M1 J40)
• Holiday Inn York
• Holiday Inn Portsmouth
• Holiday Inn Washington
The 119 bedroom hotel on Ipswich Road is among three in East Anglia, including Ipswich and Colchester, up for sale as part of the deal.
The sale also includes hotels across the country from Washington, Tyne & Wear in the north, to Portsmouth on the south coast.
Property advisor Christie + Co, which is handling the sale, said offers in excess of £70m are being sought for the whole group, although offers for small groups or individual hotels will be considered.
So far the interest shown in the hotels suggested that any new buyer was likely to continue running the sites as a going concern either as Holiday Inn hotels or under a different banner.
Jeremy Jones, director of corporate hotels at Christie + Co, said offers for all or any of the hotels should be made by noon on June 11.
He said: “Strong interest has already been shown in all the hotels, which are being offered free of management and with an interim Holiday Inn franchise agreement until the end of this year, and as such we have set a first round offer deadline of 11 June.”
A fast-growth Norwich firm has overhauled expectations of the traditional office and put creativity at the heart of its business as it presses ahead with plans to expand overseas.