Hilton Avisford Park on the market for £10.5m
Albitar Business Corporation has put the long leasehold of the 140-bedroom Hilton Avisford Park hotel in Arun, West Sussex, on the market for a guide price of £10.5m.
The hotel is held long leasehold for 999 years commencing on 1 March 2001 and subject to an operational lease to Hilton for 20 years terminating on 31 December 2021.
The property has 15 meeting and 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 has 27 bedrooms – the property occupies a site measuring approximately 60 acres. It also has its own health club with both an indoor and outdoor pool and access of the Avisford Park Golf Club.
Henry Jackson in Knight Frank's hotels team, which is the sole selling agent, 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.
"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. While 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."
