Peel Hotels puts three more properties up for sale
Peel Hotels has put three more of its properties up for sale: the Caledonian hotel in Newcastle, the Midland hotel in Bradford and the George hotel in Wallingford.
The group put the freehold of its four-AA-starred, 95-bedroom Norfolk Royale hotel in Bournemouth on the market earlier this year with a guide price of £8.5m. Chairman Robert Peel said at the time he wanted to clear the company's £5m debts before the end of the year, but that if another of the hotels sold, he might not also sell the Royale.
The 89-bedroom Caledonian hotel is in Jesmond, one mile from Newcastle city centre. The newly refurbished property has a bar and restaurant with an alfresco terrace, seven meeting rooms and conference facilities.
The 90-bedroom Midland hotel in West Yorkshire sits in a Grade II-listed Victorian property with extensive function and banqueting suites including two ballrooms. The George, a Grade II-listed coaching inn in Oxfordshire, was refurbished in 2019 and has 39 guest rooms, a bar and restaurant, as well as two function rooms.
Jeremy Jones, head of brokerage at Christie & Co, which is marketing the property, said the launch of three further hotels to market followed "significant level of interest" into the Norfolk Royale.
Ed Bellfield, regional director hotels, South, South West & Anglia, responsible for the sale of the Norfolk Royale, said: "We are very pleased with the interest expressed for the Norfolk Royale and expect these opportunities will attract many local, regional and international hotel investors and operators."
David Lee, regional director hotels, North East & East Midlands, added: "The Caledonian and Midland hotels are excellent opportunities for a new owner looking to buy in the north east, considering their size, great locations and variety of different income streams. Both hotels are able to tap into the current staycation trend and the Midland hotel is also directly positioned to benefit from Bradford's selection as the UK City of Culture for 2025."
