A 'Welcome' conclusion for Christie + Co’s latest hotel sale
Businesses sold
Specialist property adviser Christie + Co has sold the Welcome Inn hotel, Rotherham, on behalf of Administrative Receivers.
Significant interest was generated in this purpose-built freehold property resulting in multiple bids well in excess of the guide price, culminating in the sale to London based Morar Hospitality Ltd, the first sale of the property since opening in 2004.
The hotel provides 52 en-suite bedrooms with self contained car parking and occupies a high profile site adjacent to the Oasis Health Club and Superbowl which remain part of the ongoing group administration.
Jay Patel, director of Morar Hospitality comments: “The Welcome Inn enjoys an excellent main road location close to Rotherham town centre and is easily accessible to both Meadowhall and Sheffield Arena. We very much look forward to developing the business going forward and were pleased with the assistance provided by assistance provided by Jawad Anjum of Christie Finance in securing the necessary funding to complete this transaction.”
Christie + Co’s Head of Leisure & Development Jon Patrick who coordinated the sale adds: “The sale of the Welcome Inn attracted unprecedented levels of interest from across the hospitality sector with competitive bidding and multiple viewings by interested parties attracted to its simple format of operation comprising bedroom-only sales. We anticipate being able to report further sales from the portfolio in the coming months and have been encouraged by the considerable interest shown from a variety of potential purchasers.”
