The Ramada Birmingham Solihull, brought to the market earlier this year by Christie + Co on behalf of the joint administrators of Ailsa Solihull Limited, has been sold.
The 145-room hotel, located in the centre of Solihull, has been acquired by SGS Hotels (UK) Ltd, which is looking to build a small hotel group. SGS Hotels is a subsidiary of Indian company Subhash Gulati Group, which has interests in shopping malls, infrastructure development and aviation, as well as hotels.
The hotel property has four phases of development including a 16th century constructed Grade II-Listed building fronting the High Street in Solihull (known as The George Hotel). In addition to the guest rooms, the hotel has 15 meeting and conference rooms and is arranged on three sides of an historic bowling green.
Gavin Wright, Director of Christie + Co, said:
“This well-located hotel is an excellent first acquisition in the UK for SGS Hotels (UK) Ltd. Following the property going into administration and a subsequent reduction in asking price to £7.5m, we generated a number of viewings and received a total of eight offers in a very competitive best and final offers process.”
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