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Hotel Indigo, located in The Cube, Birmingham, has been sold for £12.5m to the Caskade Group.
Hotel Indigo features 52 rooms, a Marco Pierre White restaurant and the city’s first exclusive whiskey and cocktails lounge.
The venue was opened in 2010 and was designed by architect Ken Shuttleworth of Make, whose portfolio also includes the Gherkin. In the 12 years since opening, the property reportedly became a destination for many, as it provides a “panoramic” view of the city.
In addition to the hotel, The Cube also includes bars, restaurants and several leisure uses, including a 10-pin bowling centre. It also has 135 residential apartments, extensive underground car parking and 111,500 sq. ft of offices.
Hugh Anderson, director of hotel and leisure at Graham and Sibbald, who handled the sale, said: “It is a testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham’s most iconic buildings.
“This investment represents the buyer’s commitment to Birmingham and the faith buyers still have in the hotel and leisure sector after two very tough years.”
Hamid Ali, CEO and chairman of Caskade Group, added: “We are delighted to be investing in Birmingham and have exciting plans for the Hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer.”
