Riverside Hotel in York up for sale for £18m

02 July 2012

Jefferson Hotels has instructed Savills to bring to the market the Park Inn by Radisson Hotel on North Street, York at a guide price of £18 million.

Within York’s historic centre and overlooking the River Ouse, the hotel has 200 en-suite bedrooms, a 120-cover Bar & Grill and 20-cover Lounge Bar, as well as a Health & Fitness Centre containing gym, sauna and beauty treatment rooms. A total of 910 delegates can be accommodated across 13 meeting rooms and the hotel has a 90-space car park.

The city’s famous visitor attractions including York Minster, York Castle and the network of medieval streets are within minutes of the hotel, as is York train station.

James Bradley, Hotels Associate at Savills, comments: “This modern property’s excellent location in one of the UK’s most visited cities, combined with £5.5m refurbishment since 2008, makes it highly desirable. Occupancy rates are buoyant due to ongoing demand yet supply remains static due to central York’s development restrictions. This asset therefore presents a rare and excellent opportunity to invest in the city’s enduringly successful hotel market.”

 
 

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Key Contacts

James Bradley

James Bradley

Associate Director Hotel Valuation

Savills Margaret Street

+44 (0) 20 7409 8771