The surprising guide price of 103-bed Bamber Bridge hotel next to the M6, M65 and M61 interchange
The 3.8 acre site has 103 bedrooms, a bar, restaurant, three conference rooms, parking for 100 cars - and is still cheaper than 39 family houses surrounding it.
One of South Ribble’s best known hotels will be sold next month - with a surprising guide price.
The Holiday Inn Express, The Preston Hotel in Reedfield Place, Walton Summit - which used to be called the Novotel - will go under the hammer on June 11 in an online auction.
Acuitus Ltd give the guide price for the freehold as £1million - perhaps surprising given that currently within five miles of Bamber Bridge, there are 39 residential properies for sale for more than £1m - with many of those in the £1.25m range.
The 103 en-suite bedroomed hotel, which sits next to the Bamber Bridge interchange, where the M6, M65 and M61 motorways converge, also has a restaurant, bar, three conference rooms and more than 100 car parking spaces.
The 3.8 acre site is let to Yeoman Preston Property Limited trading as Holiday Inn Express on a long lease until 3017 with no breaks - and the operation of the hotel is not believed to be affected by the freehold sale.
The lease currently produces a rental Income of £69,687 per year.
Acuitus Ltd say: “The property occupies a prominent roadside position with excellent road connectivity, close to the M6,M65 and M61 motorways and approximately five miles south-east of Preston City Centre. Nearby occupiers include Parcelforce Worldwide, Yodel, Summit Foods, Arnord Mardix and Four Oaks Business Park (adjacent) which feautures a range of a local trade counter businesses.”