Colliers International has announced a ‘significant price reduction’ on the Eden Arms Hotel in Durham, with offers now being accepted in the region of £1.4m.
Owners the Specialist Leisure Group, an operator of escorted tours and leisure hotels, is selling the 17th century coaching inn after a recent refurbishment programme, which included the refresh of its bedrooms and restaurants.
Eden Arms Hotel comprises a total of 44 bedrooms, a bar and restaurant, plus function facilities, and a leisure club with swimming pool, sauna, steam room and spa.
IIn addition, there are a wide range of outbuildings incorporated within the site which are ideal for further development, especially since the property benefits from a planning consent to develop three residential dwellings.
Robert Smithson, senior surveyor in the Hotels Agency team at Colliers International, commented: “Although part of a larger group, the hotel is an established and successful business in its own right. This is due to a recent refurbishment programme, increased private leisure interests and the popularity of this hotel amongst local clientele for a wide array of corporate and private events.
“From both an operational and property perspective, there is exciting value added opportunities here; which coupled with the potential for SLG to continue to provide coach trade; makes this an excellent opportunity.”
