Hilton Avisford Park hotel has been brought to the market off a guide price of £10.5m.
The hotel comprises 140 ensuite bedrooms, 15 meeting/function rooms, a bar, a restaurant and approximately 270 car parking spaces.
Split between two buildings – the main building comprising 113 bedrooms, and the Garden Block with a separate entrance comprising 27 bedrooms – the property occupies a site measuring approximately 60 acres.
The hotel is held long leasehold for 999 years commencing on 1 March 2001 and subject to an operational lease to Hilton Group PLC for 20 years terminating on 31 December 2021.
In addition, the property features its own health club with both an indoor and outdoor pool and also benefits from having access and use of the Avisford Park Golf Club.
The property is located in Arun, West Sussex, and is near to West Wittering and Bognar Regis, two “popular beach locations” attracting circa 450,000 visitors per year.
Henry Jackson, from Knight Frank’s hotels team who is heading the sale, said: “The hotel provides an incoming purchaser with an established business with considerable business drivers in the area, covering both the corporate and leisure markets.
“The hotel will have potential branding opportunities and this coupled with the long-term development angle of the site, makes it an exciting investment opportunity.”
He added: “We have seen a significant growth in demand for well-located regional hotel assets which benefit from UK domestic “staycation” business. There remains limited stock in the market and market sentiment remains positive.
“Whilst there continues to be concerns about traveling abroad, we expect regional hotels to benefit from a positive trading environment with F&B departments operating at increasing capacities as the restrictions are lifted”.