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Premier Inn Hotels has acquired a new hotel site in Alnwick in a six digit investment, Bradley Hall announces.
The land is owned by Northern Commercial Properties Limited (NPC) and is reportedly set to be transformed into an 80-bedroom hotel with an eatery branded with Premier Inn’s restaurant, Thyme, as well as an additional bar and parking for over 80 cars.
The construction of the project is expected to be complete between the spring and autumn of 2022.
Bradley Hall, Northern chartered surveyors and estate agents, has assisted on the investment. Neil Hart, group managing director, was “heavily involved” in the sourcing of the tenant, negotiating the terms, obtaining a purchaser, and settling the final deal.
Hart said: “We are delighted to have completed such a substantial deal in Alnwick which will offer additional source growth and development for the area as an outstanding place to live, work and visit.
“The planning application has been accepted and plans for the Premier Inn in Alnwick are sure to make a positive impact on the area as a whole.”
The investment was sold by NCP to Value and Indexed Property Income Trust PLC. Meanwhile, WSB Property Consultants and DWF LLP acted on behalf of Premier Inn Hotels Ltd, and Bradley Hall acted on behalf of NCP.
