Another Prestige deal for Whitbread
12 April 2008
A £2.3 million refurbishment is to start soon at the South Shields hotel
A £2.3 million refurbishment is to start soon at the former Prestige Hotel, South Shields, Tyne and Wear, after its acquisition by the UK’s largest hospitality operator Whitbread Group Plc.
An extensive upgrade of the restaurant and rooms starts this month at the hotel in Newcastle Road under Whitbread’s well-known Premier Inn brand following completion of the deal this week.
The 64-bedroom hotel has been acquired by the hospitality giant on a 25-year lease with a 15-year break clause in a transaction in which it was represented by the Leeds office of King Sturge.
Whitbread Group Plc acquisition manager for the area, Kevin Murray, says “We already have a strong and popular presence in the North East and this opportunity suited our outstanding requirement for the area.
“The hotel will now be refurbished to our brand standards so it can provide the best possible facilities to guests and the local community.”
Senior Associate in the King Sturge Retail, Leisure & Hotels team, Adam Mobley, says: “This is a well-established hotel. Bringing such a large and experienced hotel operator into the area will strengthen a business which is already successful and which will be an excellent addition to Premier Inn's portfolio."
The Manchester office of Savills acted for the hotel owner Raj Singh.
The King Sturge Retail, Leisure & Hotels team in Leeds is retained to acquire sites throughout the North to support the growth of Whitbread Group Plc, which has more than 500 hotels in the UK.
