Canada Life has sold the Holiday Inn Birmingham – Walsall M6, Jct.10 to CL Capital off a £6.85m guide price.
Business property adviser Christie & Co marketed the property on behalf of Canada Life insurance group, which rebranded the hotel to a Holiday Inn when it acquired the property in 2011, and has sold it to CL Capital, an Asian-based investment fund.
The 156-bedroom hotel has undergone “extensive investment” across the bedrooms and public areas.
CL Capital also owns the Oxford Witney hotel and the Swan’s Nest hotel in Stratford-upon-Avon, Warwickshire. Kew Green Hotels will continue to manage the hotel.
Alex Campbell, director at Christie & Co, said: “We received strong interest from domestic and international investors for the property, highlighting the demand for strongly performing hotels in the UK regional markets.”
Canada Life was advised by Taylor Wessing. CL Capital was advised by Proskauer Rose.
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