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Castle Hotel in Tamworth acquired by Kuwaiti investor

25 March 2015 by
Castle Hotel in Tamworth acquired by Kuwaiti investor

The 40-bedroom Castle Hotel in Tamworth, Staffordshire, has been sold to an investor from Kuwait, off an asking price of £2.1m.

Located in the shadow of Tamworth castle, the Grade-II-listed property has been sold by Tim Wedgewood, who has owned the hotel for 10 years, to Nair Ezzat.

The hotel features a restaurant, vodka bar, nightclub and two banqueting suites.

The sale was negotiated by property company Christie + Co, with funding provided by sister business Christie Finance.

Gavin Wright, director at Christie + Co, said: "The sale of Castle Hotel demonstrates a strong demand for well-located and good-quality hotels which have seen ongoing investment in the asset."

"Regional hotels performed strongly last year and this did not escape the notice of investors. A substantial pool of private equity capital and better availability of debt financing have put the fizz back into the UK regional hotel sector."

Christie + Co hails double-digit hotel property price growth >>

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