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The Park Inn by Radisson in York has been put on the market for offers in excess of £20m.
The 200-bedroom hotel is currently let to Park Hotels Management for a term of 25 years, with nearly 16 years remaining. Colliers International has been instructed to sell the property on behalf of LR (York).
Located on North Street on the Southern bank of the River Ouse, close to York’s central business district, the three-star hotel features a restaurant, 13 meeting rooms, free Wi-Fi and a bar and grill.
The hotel also has a health centre and has benefitted from extensive refurbishment programmes in 2009 and 2012.
Julian Troup, head of UK hotels at Colliers International, said: “York is a key UK hotel market, with its strong regional business centre and reputation as a popular leisure destination and university town.
“Restrictions on new development, due to the city’s historic nature, have ensured that demand and occupancy rates have remained high for hotels in York.
“This, coupled with the continuing strengthening of the UK provincial hotels market as a whole, means that we expect hotel trading performance in markets like York to continue in their on-going recovery.”
