Christie + Co sells Hotel Sheraton, Blackpool
Businesses sold
Specialist property adviser Christie + Co is pleased to announce the sale of Hotel Sheraton, Blackpool.
The 126-bedroom property enjoys an enviable seafront location on the Queens Promenade and offers extensive function facilities, two bars, a restaurant and an indoor heated swimming pool.
The popular hotel which had been owned and operated by the McPhee family for 50 years has been sold to experienced hoteliers Nigel Seddon and his family from the nearby Elgin Hotel for an undisclosed sum off a guide asking price of £2.3million.
Nigel Seddon comments: ""‘We are delighted to have acquired the Sheraton from our friends the McPhee family. We still very much believe in the traditional British seaside holiday and that with our experience, and the great team of staff at the Hotel Sheraton, we can make a real success of our new venture. We will be spending £500,000 on the property in the next 12 months including 35 all-new ‘Beach-House’ bedrooms by Lizzie Brown, a total refurbishment of the restaurant and new equipment in the kitchen.""
""We are all very excited about the future of ‘Hotel Sheraton.""
Martin Davis, Director at Christie + Co’s Manchester office handled the sale. He says: “It was a pleasure to deal with the sale of this popular hotel; Mr Seddon recognised a unique opportunity to acquire this substantial freehold property which enjoys a prime trading location in one of the UK’s most popular resort destinations. We wish the Seddon's the very best for what promises to be a most exciting future for the Sheraton Hotel and its staff.”
“This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels.”
