Property group acquires West Yorkshire hotel

02 August 2019

Property group acquires West Yorkshire hotel

A West Yorkshire hotel has been sold to a property group in a deal brokered by Christie & Co.

The Premium Inn in Castleford has been purchased from Kyle Bird by Priestley Group, with plans to develop the site for mixed use.

The hotel comprises 20 en-suite bedrooms, a pub and restaurant with a central bar and seating for 75 guests, two function rooms available for private dining and corporate events, and a beer garden.

The property also includes a commercial catering kitchen, storage facilities, parking and manager's accommodation.

It is located close to the M62, as well as attractions including Diggerland, Whitwood Golf Course and the Xscape Yorkshire leisure complex.

Nathan Priestley, of Priestley Group, said: "We are excited to finally complete on the deal which is to be retained long term within our investment arm. The hotel is in fantastic condition so this will be operated as is from day one. The unused pub and restaurant will eventually be converted to form high end serviced offices."

Sam Ashton, business agent at Christie & Co, handled the sale and added: "The Premium Inn achieved lots of interest as the buyer pool was certainly varied to say the least, ranging from pub operators, development buyers and commercial office buyers throughout the marketing campaign."

The Premium Inn was sold freehold off an asking price of £395,000.