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Park Inn by Radisson in York on market for £18m

02 July 2012 by
Park Inn by Radisson in York on market for £18m

The 200-bedroom Park Inn by Radisson in York has been put up for sale, with a guide price of £18m.

Overlooking the River Ouse and within the historic city centre, the property includes a 120-seat bar & grill; 20-seat lounge bar; a health and fitness centre with gym, sauna and beauty treatment rooms; and 13 meeting rooms accommodating up to 910 delegates.

The property, which has undergone a £5.5m refurbishment since 2008, is being sold by Jefferson Hotels and marketed by Savills.

James Bradley, hotels associate at Savills, said that the hotel is a "highly desirable" property. "Occupancy rates are buoyant due to ongoing demand yet supply remains static due to central York's development restrictions," he explained. "This asset, therefore, presents a rare and excellent opportunity to invest in the city's enduringly successful hotel market."

Q Hotels to sell four properties as it plans financial restructure >>

Property focus on the north of England >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

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