New-start company Balaji Hotels has acquired its first property with the purchase of the leasehold on the Comfort Hotel Royal in the Northamptonshire town of Kettering.
Balaji Hotels, which is owned by a private individual from India, intends to create a small hotel portfolio across the UK.
The hotel, a former coaching inn located in the town centre, offers 41 en-suite bedrooms, a 60-seat restaurant, a 60-seat lounge bar, and a 40-seat cocktail bar.
Additional facilities include a 250-capacity ballroom, a 180-capacity nightclub and a hairdressing salon that is let on a management agreement.
Christie + Co's Milton Keynes office sold the long leasehold on the hotel off an asking price of £450,000 on behalf of a private landlord.
"The business has recently undergone a refurbishment and modernisation programme, which has resulted in increased turnover, "commented Christie + Co's Stewart Harkness.
By Angela Frewin