Blackpool hoteliers acquire second seafront site
A Blackpool hotel on the market for £2.3m has been sold to local hoteliers for an undisclosed sum.
The 126-room Hotel Sheraton has been acquired by Nigel Seddon and family, who own the nearby Elgin Hotel.
A £250,000 refurbishment of the site has already begun in a bid to bring the hotel up to a three-star standard, The Blackpool Gazette has reported.
Hotel Sheraton has been owned and operated by the local McPhee family for the past 50 years.
The site features two bars, a restaurant, indoor heated swimming pool and extensive function facilities.
Martin Davis, director at specialist property adviser Christie + Co’s Manchester office, handled the sale.
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He said: “It was a pleasure to deal with the sale of this popular hotel; Mr Seddon recognised a unique opportunity to acquire this substantial freehold property which enjoys a prime trading location in one of the UK’s most popular resort destinations.
“This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels.
Blackpool hoteliers acquire second seafront site
Property & Development Magazine