GVA has been appointed by Paul Flint, Mark Orton and Brian Green
of KPMG LLP, Joint Administrators to Beetham Hotels Birmingham Ltd,
to dispose of the 999 year lease of the landmark Radisson Blu Hotel
on Holloway Circus in the centre of the city.
The administrative process regarding Beetham Hotels Birmingham
Ltd is purely in respect of the financial obligations of the
leasehold owner. It does not affect trading at the 211 bedroom
premium hotel, which remains open for business and is trading
positively. The hotel is operated under an International Management
Agreement by Rezidor Hotel Group, using the internationally
renowned upper scale 'Radisson Blu' brand.
Ian Stringer, Regional Senior Director at GVA's Birmingham
office, comments: "We are delighted to be working with the Joint
Administrators from KPMG to gain maximum market exposure for this
prospective sale. Interest has already started to build - both
nationally and internationally - highlighting the significance of
this high profile investment opportunity."
James Williamson, Director, GVA Humberts Leisure comments:
"Since opening its doors in 2006, the Radisson Blu Hotel has been
amongst Birmingham's key hotel venues. The strength of the global
brand makes this leasehold acquisition opportunity very desirable
to both hotel investment specialists and more general property
companies. In the current economic climate, banks and investors
have shown a definite preference for opportunities that are
supported by brands with strong international recognition.
"One of the many attractions of acquiring the 999 year leasehold
interest of the Radisson Blu Hotel is due to it forming part of the
iconic 'Beetham Tower' skyscraper building that is only six years
old. At 39 storeys, it is the tallest building in central
Birmingham and is a stunning and striking landmark situated at the
heart of the city, within moments of New Street train
station.
"Designed by award-winning Ian Simpson Architects, the design
and construction of the hotel is to the highest quality,
underpinning the attraction of the investment proposition. The 211
bedrooms and suites were designed by Italian designer Matteo Thun,
and the Filini restaurant concept was created by acclaimed
restaurateur, Roy Ackerman."
The 30-strong GVA Humberts Leisure team is leading on this new
instruction. The team has previously worked with Administrators
from KPMG on a number of Hotels and Leisure disposals, including
the sale of the mid-16th Century Taymouth Castle in the Scottish
Highlands. The Grade A listed historic monument was sold with
planning consent for a luxury 72 suite hotel and spa within the
Castle, as well as the development of 79 residential lodges and the
creation of 26 fractional ownership homes in the Castle
grounds.
GVA, jointly with CBRE, was also responsible for the UK's
largest regional property transaction of 2011 when it disposed of
the complex highly prestigious mixed-use development, The Mailbox,
located virtually opposite the Radisson Blu Hotel in
Birmingham.