THE Holiday Inn Express in Dundee has been bought out of administration.
The purpose-built 95-bedroom hotel was purchased by a joint venture between Cannock Investments and Hetherley Developments. The sale was handled by Christie & Co on behalf of PricewaterhouseCoopers LLP.
Stephen Bantoft of Cannock Investments said: “We’re delighted to have acquired this high quality asset on behalf of our investors.
“We are confident the hotel will provide strong returns.”
In addition to the 95 bedrooms, the hotel has two meeting rooms and the ground floor houses five retail and restaurant units.
Image – The hotel was bought out of administration.