Blackpool hotel sold for £2.3m
The Hotel Sheraton in Blackpool has been sold for an undisclosed sum from a guide asking price of £2.3m.The 126-bedroom property on a seafront location on the Queens Promenade had previously been owned by John McPhee, the former Blackpool FC player who died in January.
The McPhee family owner and operated the hotel, which has extensive function facilities, two bars, a restaurant and an indoor heated swimming pool, for 50 years.Experienced hotelier Nigel Seddon and his family from the nearby Elgin Hotel made the purchase.
Nigel Seddon said: “‘We are delighted to have acquired the Sheraton from our friends the McPhee family. We still very much believe in the traditional British seaside holiday and that with our experience, and the great team of staff at the Hotel Sheraton, we can make a real success of our new venture."We will be spending £500,000 on the property in the next 12 months including 35 all-new ‘Beach-House’ bedrooms by Lizzie Brown, a total refurbishment of the restaurant and new equipment in the kitchen.” Martin Davis, director at Christie + Co, who handled the sale, said: “This sale underpins the increasing strength and depth of the Blackpool hotel market for the better quality Promenade hotels.”