"Super budget" hotel operator EasyHotel has sold the A3 restaurant space at its site at 47 Castle Street in Liverpool to the restaurant's operator for £600,000.
The space, which is occupied by Salt House Bacaro, an Italian-style restaurant offering small plates and charcuterie, has been bought by Rocket and Ruby Properties LLP, owner of the restaurant business.
EasyHotel acquired the freehold of the six-storey office building in April 2015 for £1.3m. Planning permission has been granted to convert the upper floors into a 79-room EasyHotel, with an entrance on the main street and the hotel reception located on the first floor. Refurbishment works have started and the hotel is expected to open by January 2017.
Guy Parsons, chief executive officer of EasyHotel said: "Our strategy is focused on the ownership of high-quality hotel assets and this transaction enables us to recycle capital through the disposal of surplus assets, the proceeds of which can be re-invested in future owned hotel projects in order to maximise shareholder returns."
EasyHotel achieves 8% like-for-like revenue growth >>
easyHotel employs system to personalise customer engagement >>
Looking for a job? See all the current hotel vacancies available with The Caterer Jobs >>
Latest video from The Caterer