Crowne Plaza Cambridge to be sold for £35m

Published 09th Aug 2011

The Crowne Plaza in Cambridge has been put up for sale for £35m by Grant Thornton, the administrators of the Quinn Group.

Christie + Co has been appointed to market the 198-bedroom hotel, which is being offered with vacant possession. IHG’s management agreement on the hotel has expired but a rolling contract with the hotel operator has been agreed.

The hotel includes the Bloomsbury’s restaurant, a gym and more than 3,500 sq ft of meeting room space.

Alex Campbell of Christie + Co said: “With the limited supply of hotel accommodation in the City centre the Crowne Plaza is an excellent, and unique, opportunity for existing operators and new investors who are prepared to make some investment in bringing guest facilities up to modern standards.”

Source: ' Property Week '

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