Fri, 19 Aug 2011 | ADMINISTRATION
A buyer is being sought for Nitenite, the innovative Japanese-style windowless hotel concept, after its parent company recently entered administration.
Located in Birmingham, the unusual 104-bedroom hotel opened to guests in 2006. It is one of the first pod hotels in Britain, featuring bedrooms that mimic the style and feel of luxury yacht cabins.
Though trading well, the business was pushed into administration after experiencing financial problems.
“This is clearly an attractive hotel” Ryan Grant of Zolfo Cooper said, and “ideally located for both business and tourism and with an innovative forward-looking design.”
The hotel is being traded while a buyer is sought. The sale process has started and interested parties are invited to come forward, Mr Grant said.
Jonathan Wren of Colliers International has been hired to manage the sale process for the hotel. It is being sold as a long leasehold, with 125 years starting from 2006.
He said: “The Nitenite Hotel is one of central Birmingham’s most distinctive and popular hotels and, although now in administration, continues to trade successfully and with commendably healthy levels of profit.”
Other attractive features for buyers include its unused space, which can be used to add more bedrooms, and the brand, which could be expanded to other cities.
Cnvenience store in a desirable village on the Devon/Cornwall border, situated within attractive Tamar Valley, an area of outstanding natural beauty, close to Tavistock, short drive Plymouth and the coast. With a high profile main road trading positi...
FREEHOLD
The business was established and considerably improved by the present owner more than 12 years ago and is being reluctantly sold as the owner wants to take some time out after the demands of the past few years.
LEASEHOLD
An opportunity to acquire a thriving Turkish restaurant overlooking an open Marina in an affluent West London location.
LEASEHOLD
30
|
Apr
|
UK administrations update: April 23 – 30 | ADMINISTRATION
Since our last update, the following businesses have been co...
29
|
Apr
|
WLR Law acquires media and sport law firm | BUSINESS SALE
Castle Donnington-based WLR Law has acquired specialist comm...
29
|
Apr
|
South Wales environmental firm undergoes MBO | MBO/MBI
South Wales-based SJ Environmental Limited has undergone a m...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.