Quays Hotel Sheffield: £10million Former Hilton sold off to Canadian owners Northland Properties
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The giant Quays Hotel, which overlooks the city’s Victoria Quays waterfront, was on the market for £10 million and has been bought up by a Canadian firm, who are pledging ‘significant investment’ in the building and have a history of owning hotels.
The sale includes the 128-room hotel and its adjacent multistorey car park, say Christie & Co, who carried out the sale.
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Previously owned by Furnival Quay Ltd, the hotel occupies a three-acre site, and had once been one of Hilton’s branded, four-star hotels
It was re-opened and rebranded in 2020 as a Best Western Plus.
The latest move sees it bought up by Canadian-based Northland Properties Corporation, the parent company of multiple hotel chains, restaurants and sports teams, founded in 1963 and owned by the Gaglardi family.
Sandman Signature Sheffield
Northland presently operate three hotels in the UK under their Sandman Signature brand in Aberdeen, Newcastle and Gatwick with a number of new locations currently in negotiation and under consideration.
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Hide AdDale Fixter, Furnival Quay Ltd’s spokeman said: “As experienced, local developers and investors, we acquired the former Hilton hotel and adjacent MSCP with a view to either redeveloping all or part of the site given it was a building of over 100,000 sq ft on a three-acre site close to the city centre.
“Together with the Christie & Co team and Legacy Hotels, we worked through a variety of scenarios and the competitive bidding achieved for the property validates our decision to proceed with the sale to a long-term owner with significant operational expertise.”
Victoria Quays
Mitch Gaglardi of Northland Properties said: “The acquisition of the Quays Hotel is a strategic one for our group as we look build our UK platform. The extensive real estate plays to our development skills and we look forward to showcasing the next Sandman Signature following the significant programme of investment we envisage being undertaken in due course.”
Jeremy Jones, Head of Hotel Brokerage at Christie & Co added: “The demand for good quality, freehold provincial hotels with further potential for development remains strong, with competitive interest from a variety of corporate operators being generated in this particular instance.”