Manchester Park Inn hotel for sale

The Park Inn by Radisson hotel in Cheetham Hill Road has been put on the market with a £20m price tag.

Administrators at Deloitte have appointed CBRE and JLL to sell the 238-bedroom hotel, alongside two other leisure assets in Edinburgh and Glasgow worth a combined £132.3m. Offers are invited for the properties individually or to acquire any mix of the schemes.

The Park Inn is let to Rezidor with 20 years unexpired on the lease.

Deloitte is the administrator for WG Mitchell, which owned a range of hotels across the UK before it folded in 2009.

Kerr Young, director of hotels and hospitality for JLL, said: "This portfolio gives investors the opportunity to acquire not only a secure income stream with great covenant strength, but also prime real estate in two key UK cities."

Paul Collins, director of CBRE Hotels said: "We are seeing substantial trading growth in the Edinburgh and Manchester hotel markets and this will enhance the future rental income for the buyer of these rarely available hotels which are on performance leases."