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Shire Hotels seeks £3m+ for Burnley hotel

01 June 2006

Shire Hotels has instructed the Leeds and Manchester offices of Christie + Co to seek offers in excess of £3m for the Oaks hotel in Lancashire.

The three-star hotel in Reedley, Burnley, occupies 3.35 acres of land just one mile from Junction 12 of the M65 motorway.

The original property was built in the 19th century by Manchester tea and coffee merchant Abraham Altham, whose life is depicted in the 25 ft high stained glass window dominating the reception and lounge.

The hotel, which enjoys a thriving wedding and conference business, comprises 51 en-suite bedrooms, the Quills restaurant, five function rooms with a combined maximum capacity of 250 people, and a health and leisure club.

"The focus of the company is on a full-service, four-star model with extensive conference facilities and a large spa and The Oaks no longer fits this model," explained Ian Harkness, managing director at Shire Hotels.

As the hotel is currently Shire's head office, the new owners have the opportunity to create extra bedrooms from space currently used as offices.

Shire plans to move in with its parent company, brewer Daniel Thwaites in Blackburn, after the sale.

The £3m guide price includes a four-bedroom lodge near the hotel entrance.

A second four-bedroom property nearby that is currently used for staff accommodation is available separately for offers between £150,000 and £170,000.

John Patrick, director and head of leisure and development at the Leeds office of Christie + Co, said the property had already attracted a high level of interest and he anticipated closing the sale towards the end of the month.

By Angela Frewin

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