Specialist business property adviser, Christie & Co has sold the former IBIS Budget Hotel in Bradford, West Yorkshire. Funding for the purchasers was secured through Christie Finance.
Located in central Bradford, the closed property formerly operated as an IBIS hotel, featuring 86 bedrooms as well as an open plan reception and dining area.
The hotel was purpose-built in 2008, and the previous owner recently sold it to focus on their other hotel and retail business ventures. The business has been acquired by an experienced operator who owns two other hotels in West Yorkshire, and has recently re-opened this hotel as their third.
David Lee, Regional Director at Christie & Co who handled the sale, says: “We were very pleased to conclude this hotel transaction, with invaluable help from Ram Kakar from Christie Finance. I wish all the best to the new owners in their latest venture.”
Ram Kakar, Director at Christie Finance, who secured funding for the sale, says: “This was a satisfying completion for the Christie network, with funding secured for our clients within just eight days of instruction. This deal showcases that we could effectively provide a solution for our clients, no matter the circumstances.
“Appetite for the hospitality sector remains fluid, and Christie Finance Real Estate have the experience and the capability to deliver alternative solutions for our clients.”
