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ibis Coventry Centre Mile Ln 90 Room Hotel Coventry CV1 2LN £4,950,000 (£55,000/Room)
Investment Highlights
- Less than 20 minutes from Birmingham International Airport
- Includes a vacant ground floor building with potential for conversion, subject to planning
- 999 year long leasehold (virtual freehold) from 1 December 1999 at a peppercorn rent
Executive Summary
Investment Highlights
- Branded hotel operating under a franchise agreement with Accor ibis.
- 90 guest bedrooms arranged across four floors with a mix of double, twin and family rooms.
- Located next to Coventry University Technology Park, a 20 acre site with 14 business facilities.
- Prime city centre position on Mile Lane, only a 5 minute walk from Coventry Railway Station.
- Less than 20 minutes from Birmingham International Airport and the NEC.
- Public areas include a breakfast area for around 50 guests, bar area with pool table and coffee station.
- Strong demand drivers including corporate travel, university visitors, technology parks and conferences.
- Includes a vacant ground floor building with potential for conversion, subject to planning.
- 999 year long leasehold (virtual freehold) from 1 December 1999 at a peppercorn rent.
- Branded hotel operating under a franchise agreement with Accor ibis.
- 90 guest bedrooms arranged across four floors with a mix of double, twin and family rooms.
- Located next to Coventry University Technology Park, a 20 acre site with 14 business facilities.
- Prime city centre position on Mile Lane, only a 5 minute walk from Coventry Railway Station.
- Less than 20 minutes from Birmingham International Airport and the NEC.
- Public areas include a breakfast area for around 50 guests, bar area with pool table and coffee station.
- Strong demand drivers including corporate travel, university visitors, technology parks and conferences.
- Includes a vacant ground floor building with potential for conversion, subject to planning.
- 999 year long leasehold (virtual freehold) from 1 December 1999 at a peppercorn rent.
Property Facts
| Price | £4,950,000 | Total Plot Size | 1.83 ac |
| Price Per Room | £55,000 | Property Size | 48,600 sq ft |
| Sale Type | Investment | No. Rooms | 90 |
| Tenure | Long Leasehold | No. Floors | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1999/2018 |
| Property Subtype | Hotel | Parking Allocation | 3.37/1,000 sq ft |
| Costar Property Class | B | Corridor | Interior |
| Price | £4,950,000 |
| Price Per Room | £55,000 |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Costar Property Class | B |
| Total Plot Size | 1.83 ac |
| Property Size | 48,600 sq ft |
| No. Rooms | 90 |
| No. Floors | 3 |
| Year Built/Renovated | 1999/2018 |
| Parking Allocation | 3.37/1,000 sq ft |
| Corridor | Interior |
Amenities
- Business Centre
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | sq ft |
|---|---|---|---|
| Guest Room | 90 | £120.00 | - |
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ibis Coventry Centre | Mile Ln
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