A popular business hotel just off the M4 in Swindon has been put up sale. The 171-bedroom DoubleTree by Hilton, on Great Western Way, reopened under the DoubleTree brand following a refurbishment in 2016.
The freehold interest in the hotel is being jointly marketed by specialist property firm Christie & Co and real estate companhy Cushman & Wakefield.
It is not known why the property is being sold but it is being advertised as a "rare opportunity" to revamp the hotel "free of management", including refurbishing rooms and updating conferencing facilities. There is also the potential to expand the number of beds to 181, subject to approval.
The hotel, which is just off junction 16 of the the motorway, is often used for business meetings and events, and has two food and drink outlets, fitness facilities and space for conferences.
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.”
The hotel is next to Lydiard Fields Business Park and nearby Windmill Hill Business Park, which is home to Regus, Nationwide and Vodafone.
Jeremy Jones, head of brokerage at Christie & Co, added: “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."
