The Hotel Indigo Birmingham Sold to The Caskade Group Off Listed Price of £12.5m
Main Photo: The Hotel Indigo, designed by Make, who were involved in The Gherkin in London
Date: July 2022
Name: The Hotel Indigo Birmingham, to be renamed The Cube Hotel
Location: The Cube, Central Birmingham, England, UK
Number of Keys: 52
Seller: The hotel opened in 2011, under the banner of Sanguine Hospitality, followed shortly after with a second Indigo in the Colmore Row conservation area in 2012. The hotel was sold by adminstrators, Kroll Advisory, following troubled trading in 2020 due to Covid lockdown. Sanguine was acquired by Interstate in 2013
Buyer: Caskade Group, headed up by Hamad Ali, CEO & Chairman, under the banner of MSHA Global Investment
The property features 52 rooms, a Marco Pierre White-branded restaurant (which will be kept), and a whiskey and cocktail lounge. The hotel is to be deflagged from IHG’s Indigo to The Cube Hotel. Bespoke hotels will step in to manage
It was designed by Ken Shuttleworth of Make, who was involved in the construction of the Gherkin building in London.
The hotel, which opened in 2011 is located in the Cube, a 25-storey mixed-use development which features 135 residential apartments, 111,500 sq ft of offices, a ten-pin bowling centre and extensive underground parking.
Hugh Anderson, director of hotel and leisure at Graham + Sibbald, who conducted the sale on behalf of the Caskade group, said: “It is testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham’s most iconic buildings.
“We have worked collaboratively with the current operators, Kroll and the purchasers to secure a sale”.
Hamid Ali, CEO and chairman of Caskade Group, added: “We are delighted to be investing in Birmingham and have exciting plans for the Hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer”.
The Caskade Group is a franchise company founded in 1984, which operates a number of KFC restaurants in the UK.
Price: Undisclosed, but the hotel was guide-priced at £12.5m
Price per Key: Around 225k
THPT Comment: Striking design, great location, great managers in Bespoke….perhaps they should have kept the Indigo brand…should work for Mr Ali and his team.
First Seen: The Caterer
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