commercial property lambert smith hampton

News - 04/09/2017

LSH Hotels sells York hotel in historic hotspot

We have successfully marketed and sold Hotel 53, a contemporary hotel located in York city centre.

Find out more

The property, which had a guide price of £13 million, has been acquired by Axcel Group Ltd and will form part of its already impressive hotel portfolio. 

Hotel 53 is located on Piccadilly, within York’s historic city walls. Well-positioned in a tourist hotspot, the 100-bed hotel is just a short distance from the city’s retail offering, York Castle Museum, York Dungeons and indoor entertainment venue, the Barbican Centre.  

Previously operated independently, the hotel is well-appointed throughout and enjoys particularly high occupancy rates. It is a solid investment, with healthy profit levels and further opportunity to increase average daily room rates and yield. Hotel 53 also benefits from an on-site restaurant and cocktail bar, as well as a selection of business spaces and conference suites.

Alistair Greenhalgh, Director – Hotels, at Lambert Smith Hampton, commented: “Hotel 53 was sold off-market on behalf of private clients, illustrating the current appetite for prime city centre hotels. We wish our client a happy retirement and the new owners, Axcel Group Ltd, every success in their future plans for the hotel.”

REGISTER FOR UPDATES

Get the latest insight, event invites and properties by email