This is the West Sussex hotel up for sale for £10.5m
A West Sussex hotel has been put up for sale with a guide price of £10.5 million.
The 140-bedroom Hilton Avisford Park hotel in Walberton, near Arundel, is being sold by Knight Frank at a guide price of £10.5m.
The hotel comprises 140 en suite bedrooms, 15 meeting/function rooms, a bar, a restaurant and approximately 270 car parking spaces.
The hotel is held Long Leasehold for 999 years commencing on 1st March 2001 and subject to an operational lease to Hilton Group PLC for 20 years terminating on 31st December 2021.
Offering 'unrivalled' leisure facilities, the property features its own health club with both an indoor and outdoor pool and also benefits from having access and use of the Avisford Park Golf Club.
Henry Jackson in Knight Frank’s Hotels team, said: “The hotel provides an incoming purchaser with an established business with considerable business drivers in the area, covering both the corporate and leisure markets.
"The hotel will have potential branding opportunities and this coupled with the long-term development angle of the site, makes it an exciting investment opportunity.
“We have seen a significant growth in demand for well-located regional hotel assets which benefit from UK domestic 'staycation' business. There remains limited stock in the market and market sentiment remains positive.
"Whilst there continues to be concerns about traveling abroad, we expect regional hotels to benefit from a positive trading environment with F and B departments operating at increasing capacities as the restrictions are lifted”.