• Swindon & Wiltshire Property
• Monday November 25 2024
• Author Name: Peter Davison

Business-friendly hotel with Swindon’s biggest event and conferencing facilities to be sold

Swindon’s DoubleTree by Hilton hotel is being brought to the market by specialist business property adviser Christie & Co and global real estate advisory firm Cushman & Wakefield.

The hotel is popular with the business community as it has the most extensive conferencing and event facilities in the area at over 1,115 sq m. It is regularly used for expos at networking events.

The agents say the sale represents “a rare opportunity to acquire an upscale, full-service hotel.”

The asking price has not yet been revealed.

The hotel, which is close to Junction 16 of the M4, has 171 en-suite guest rooms with the potential to add another ten.

There is also a “full suite of amenities” including two food and beverage outlets, fitness and wellbeing facilities.

The agents say the hotel “stands to benefit further from growing corporate demand following the consolidation of major corporates to Lydiard Fields Business Park, where the hotel is located, and nearby Windmill Hill Business Park – a micro-market that stands as a prime destination for major corporates, benefiting from the highest quality buildings and premium transport links.”

They add that the town is the established home of global corporates such as Nationwide, Zurich, and Intel while the redevelopment of the former Honda manufacturing plant by Panattoni will further boost the town’s economy.

Jeremy Jones, head of brokerage at Christie & Co, said: “The joint agents are delighted to be launching this substantial hotel asset to the market.

“Offering a profitable track record and having undergone substantial investment, the hotel offers further asset management potential to grow profitability benefiting from the growing appeal of the business parks around Swindon.”

Ed Fitch, head of hospitality UK & Ireland at Cushman & Wakefield, said: “Swindon is experiencing significant transformation with a depth of both private and public capital in deployment across a spectrum of projects from Panattoni’s redevelopment of the ex-Honda plant to investment into the town centre.

“The hotel stands to benefit from this evolution, underpinned by its strategic location at the south-west side of the town on the M4, the preferred destination for local corporates.

“This, when combined with potential to extend the key count and execute a pre-designed room refurbishment programme (subject to brand review), presents a new owner the potential to drive significant NOI uplift and value-add returns.”