The luxury Ellington hotel in Leeds, which entered administration last month, has now been closed and is up for sale for a guide price of £3m, it was announced today.
Menzies Corporate Restructuring (MCR), which was called in as administrator at the end of February, has tasked property agent CBRE Hotels with selling the property, which was managed by Pantin Hotels.
CBRE said the hotel, offered on a freehold and unencumbered basis, was a "perfect opportunity for a private owner operator who wants to run the business".
A spokesman for CBRE said the hotel had closed around two weeks ago due to "a combination of market conditions and the cost of refurbishment".
The 35-bedroom luxury boutique hotel, which only opened in September last year, features a restaurant overseen by Albert Roux.
Pantin Hotels previously distanced itself from the financial difficulties experienced by the building's owner City Retreats Management (CRM).
CRM, the vehicle for head office support and the staff employer for the Ellington, and City Retreats Commercial, owner of the Floridita nightclub in Leeds, also managed by Pantin, are also into the hands of MCR.
By Gemma Sharkey