Specialist business property advisor, Christie & Co, has completed on the sale of the 86-bedroom IBIS Budget Hotel in Bradford, which opened in 2008.
Located on Canal Road, to the north of Bradford city centre, the purpose-built hotel operates under a long-term franchise agreement with hotel group, Accor Hotels under their Ibis Budget brand and since opening, it has been owned and managed by Bradford Prince Court Limited.
The company made the decision to bring the hotel to the market through Christie & Co as it no longer fit their future investment strategy. This created an excellent opportunity for an incoming owner to acquire a well-presented hotel which has access to the support of a global hotel brand, and significant interest was shown in the hotel as a result.
“Hotels with an income that is predominately from room sales are always popular and this particular property has a lot of potential with a more hands-on approach,” says David Lee, regional hospitality director at Christie & Co, who brokered the sale.
The hotel has been purchased by Mr Ali Sadrudin, a businessman who operates a motorway service station and comes from a family with hotel experience.
He comments: “I am very pleased with this acquisition and I look forward to taking the hotel to the next level.”
The IBIS Budget was sold on a freehold basis, off a guide price of £1,950,000.