Agent confident of Express sale


PROPERTY agent Christie & Co expects to attract a high level of interest in a branded Tayside hotel it’s currently marketing.

The Holiday Inn Express Dundee is up for sale on the instructions of Pricewaterhouse Coopers, administrators of Saltire Leisure Ltd – a group company of City Site Estates plc, which went into receivership earlier this year.
The purpose-built 95-bedroom hotel is located in the city centre, close to visitor attractions like Captain Scott’s Discovery ship, the Verdant Works and Dundee Contemporary Arts Centre. As well as its 95 bedrooms, the hotel has two meeting rooms and five ground-floor units providing 7500 square foot of retail and restaurant space.
Christie & Co is seeking offers for the freehold interest, with vacant possession upon completion; it said the franchise agreement with InterContinental Hotels is able to be retained subject to agreement.
“The Holiday Inn Express benefits from its excellent brand, has a strong trading record and sits in a prominent part of Dundee — a city with a proud history and with ambitious plans for regeneration,” said Kerr Young, associate director of Christie & Co in Edinburgh.
“As well as its two universities, Dundee is also home to a number of large corporate occupiers, while the city has also attracted an array of government departments. In this context, we have already received strong interest in the hotel from both established hotel owners and opportunistic investors.”

Image: The Holiday Inn Express Dundee has 95 rooms.