The 86-bed Ibis Budget hotel in Bradford, which opened in 2008, has been sold through Christie & Co, off a guide price of £1.95m.
Located on Canal Road, to the north of Bradford city centre, the purpose-built hotel operates under a long-term franchise agreement with leading hotel group, Accor Hotels under its Ibis Budget brand and since opening, it has owned and managed by Bradford Prince Court Ld.t
The company made the decision to bring the hotel to the market through Christie & Co as it no longer fit their future investment strategy. This created an excellent opportunity for an incoming owner to acquire a well-presented hotel, which has access to the support of a global hotel brand, and significant interest was shown in the hotel as a result.
The hotel has been purchased by Ali Sadrudin a businessman who operates a motorway service station and comes from a family with hotel experience. He commented, “I am very pleased with this acquisition and I look forward to taking the hotel to the next level.”
David Lee, Regional Hospitality Director at Christie & Co, who brokered the sale, said, “Hotels with an income that is predominately from room sales are always popular and this particular property has a lot of potential with a more hands-on approach.”