Wed, 09 Sep 2015 | BUSINESS SALE
A boutique hotel in Leeds has been put up for sale shortly after its development was completed.
Currently owned by RBS, The New Ellington Hotel is located in the centre of the city and offers a full service hotel, as well as conference facilities and a popular bar called the Gin Garden.
It has become particularly popular with musicians visiting the city thanks to its proximity to the O2 Academy and First Direct Leeds Arena, both popular venues with musicians touring.
Colliers International, is selling the hotel on behalf of RBS and the price tag for the business has been set in the region of £2.5 million.
Julian Troup, head of UK hotels at Colliers, commented on the sale: “It's not often that hotels in the centre of Leeds come to the open market, so we expect to see a great deal of interest from a wide range of potential buyers eager to acquire a piece of real estate together with a successful hotel business in one of the UK’s fastest growing cities.”
Troup added that the city centre is set to be “transformed” over the coming years with a new mixed-use scheme planned for the former Yorkshire Post newspaper site. The hotel is expected to benefit from this additional development
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