JLL Hotels & Hospitality Group has advised on the sale of the Best Western Plus Reading Moat House, securing an undisclosed sum off a guide price in excess of £12.5m.
The 129 bedroom property occupies 9.5 acres and is a Grade II listed 19th Century former mill house which was converted in the 1980s.
Set overlooking the River Loddon, the property has five meeting rooms, a 120 cover restaurant, a 60 seat bar and adjoining public house benefiting from easy access to Reading town centre.
Vivek Chadha, director of Nine Group, said: “The Reading Moat House is a very strategic and long term purchase for our Group.
“We plan to spend millions on the refurbishing and development on this hotel to make it a one stop leisure and business destination.
“This hotel fits perfectly in our groups strategic expansion strategy.”
Gavin Wright, director, JLL’s Hotels & Hospitality Group, added: “This was a fantastic opportunity to secure a hotel which presents a variety of opportunities for an incoming investor due to its superb location and surrounding market.
“Given the strong corporate occupier base, the property has scope to be efficiently repositioned with or without a brand in order to further grow RevPAR.”
BQ’s commercial property updates are supported by specialist lender Together, which provides funding to businesses and property investors nationwide. With over forty years’ experience in the financial services industry, Together offers short-term finance, auction finance, buy-to-let, residential and commercial mortgages and secured loans.
The company, which now owns 13 hotels under various brands throughout the country, will continue to operate the Noke under the Mercure brand for the time being.
In addition to the hotel, it bought a 10-acre plot of land behind it and plans to spend £10m refurbishing the entire hotel and adding an additional 90 beds.
The Grade II-listed building features conference suites/function rooms, a leisure club and spa facility
Vivek Chadha, director and owner of Nine Group, who has grown the company over the past four years, said: “The Noke is a very strategic and long term purchase for our group as we own multiple hotels in the area. We plan to spend close to £10m on refurbishing and development on this hotel to make it a one-stop leisure and business destination. We will be increasing the number of rooms as well as improving the leisure club and conference facilities.”
A 26-year-old UK-based NRI hotelier has donated 100,000 pounds for the statue of Mahatma Gandhi planned for Parliament Square in London, becoming the youngest donor.
Vivek Chadha, director of Nine Hospitality Limited and a hotel owner, residential developer and commercial investor in UK real estate, is a self-confessed follower of Gandhi.
He graduated as a civil engineer in 2010 from University College London, also the alma mater of the Father of the Indian Nation.
“I am interested in particular how Gandhi emphasised the privilege of giving and practiced compassion in creative ways. The fact that Gandhi concentrated all his energy in the service of others is a great example of how all young people should follow this idea in our day-to-day lives,” Chadha said.
“It is very important that young people like Vivek step forward and donate towards this noble cause and he joins a very important growing group of British Asians who have responded generously,” said economist Lord Meghnad Desai, founder and chair of the Gandhi Statue Memorial Trust who pointed to the worldwide support for the project.
More than 50 per cent of the money raised so far has come from UK, and 80 per cent of our 180 donors are British. Many small donations have come to the charity as people have reached out. More than 90,000 pounds have been received through smaller, mostly UK-based donors who have given anything between 1 to 15,000 pounds.
The trust has achieved its goal for the project’s budget target of 750,000 pounds within approximately three months.
Other major donors include InfosysBSE co-founder Narayana Murthy and his family, and Bajaj auto chief Rahul Bajaj who both donated 200,000 pounds each.
The trust claims pledges continue to pour in from the UK and all over the world for the iconic sculpture designed by renowned sculptor Philip Jackson, who has portrayed Gandhi draped in a shawl based on pictures from his last visit to the UK in 1931.
he sculpture will go up at Parliament Square next to the likes of Britain’s war-time Prime Minister Winston Churchill and South African anti-apartheid leader Nelson Mandela in the coming months and is expected to be inaugurated by Indian Prime Minister Narendra Modi.
LONDON: A 26-year-old UK-based NRI hotelier has donated 100,000 pounds for the statue of Mahatma Gandhi planned for Parliament Square in London, becoming the youngest donor.
IHG® signs four Holiday Inn® hotels in the UK
InterContinental Hotels Group (IHG®), one of the world’s largest hotel companies, has announced the signing of four more Holiday Inn® hotels in the UK: Holiday Inn® Cardiff – North M4 Jct.32, Holiday Inn® London – West, Holiday Inn® London – Heathrow T5 and Holiday Inn® Birmingham North – Cannock.
The first to open will be Holiday Inn® Cardiff – North M4 Jct.32 – opening in just a few weeks’ time. The 95-room rebranded property will be operated by Kew Green Hotels, a long standing operating partner of IHG. The hotel will feature fantastic leisure facilities including a pool, spa, sauna and gym, as well as a bar and restaurant, board room, four meeting rooms and a newly designed lobby. Located just over three miles from Cardiff City Centre at Jct.32, the hotel has excellent road and motorway access.
Set to open this August is Holiday Inn London – West, a 225-room property including 75 new rooms and 150 refurbished rooms, which will operate under a franchise agreement with first time IHG owner Mango Hotels. The hotel offers stunning executive rooms, a number of meeting rooms, a rooftop open air terrace, as well as a fitness studio boasting fantastic views and a completely renovated ground floor with Open Lobby, restaurant and coffee bar. Conveniently situated on Western Avenue half way between Heathrow International Airport and central London, the hotel is set to benefit from its great location and the businesses nearby including the BBC and Park Royal Business Park, as well as entertainment venues Wembley Stadium and Wembley Arena.
Also opening this summer is Holiday Inn London – Heathrow T5. The converted 119-room hotel will operate under a franchise agreement with existing owner partner Arora Hotels Ltd. Ideally located to the west of the M25 Motorway with easy access to Heathrow Airport Terminal 5; the hotel is well placed to receive transit, crew and corporate clientele.
Holiday Inn Birmingham North – Cannock opening in early 2015 will operate under a franchise agreement with existing owner partner Nine Hospitality Ltd. The property will be rebranded from an existing hotel into a Holiday Inn featuring 95-rooms, large meeting and conference facilities and a sky bar on the top floor of the hotel offering panoramic views of the surrounding area. Located close to the M6 Motorway, the hotel has excellent transport links to Birmingham City Centre and Birmingham International Airport.
Philip Lassman, Director of Development, UK & Ireland, IHG said: “Holiday Inn is one of the most iconic hotel brands in the world and its commitment to innovation makes it as relevant today as when it was founded more than 60 years ago.”
Paul Johnson, CEO of Kew Green Hotels which manages the Holiday Inn Cardiff – North M4 Jct.32 said: “Holiday Inn is the strongest mid-market brand in the UK and we are delighted to add this newly renovated hotel to our existing portfolio of 25 Holiday Inn and Holiday Inn Express hotels. We look forward to continuing to grow our business with IHG through further management contracts and acquisitions.”
Bassel Saad, Owner of Mango Hotels and Holiday Inn London – West said: “We are very pleased to be rebranding our property as a Holiday Inn. This is our first of hopefully many franchises with IHG and we are excited to bring this hotel into the IHG family. Given the quality of the hotel, the team we have in place and the support from IHG, this venture is going to be a very successful one.”
Surinder Arora, Owner of Arora Hotels Ltd and Holiday Inn London – Heathrow T5 said: “We’re thrilled to be expanding our portfolio with IHG after signing InterContinental London – The O2 last year. This Holiday Inn hotel is the perfect place for those traveling with families or for airline crew and business travellers needing to stay nearby to the airport.”
Vivek Chadha, Owner of Nine Hospitality Ltd and Holiday Inn Birmingham North – Cannock said: “We’re delighted to be developing our second IHG hotel which will open shortly after our first – Holiday Inn London Watford Junction. Holiday Inn has a leading reputation in the hotel industry and I’m confident our hotel will be a shining example of the brand.”
IHG’s broader family of nine brands in nearly 100 countries and territories meets the needs of guests, whatever the occasion – whether an overnight getaway, a business trip, a family celebration or a once-in-a-lifetime experience. All IHG hotels participate in IHG’s guest loyalty programme, IHG® Rewards Club which is the industry’s first and largest guest loyalty programme with nearly 79 million members. It is free to join at www.ihgrewardsclub.com
The Holiday Inn brand family is the largest in the hospitality industry, with nearly 3,500 hotels globally. There are currently 278 Holiday Inn hotels in Europe and 36 in the development pipeline*.
*Figures as at 31st March 2014
British Premier David Cameron paid a glowing tribute to British Sikhs for their remarkable contribution to multicultural Britain at a presti- gious reception at 10 Downing Street earlier this month. Over 100 guests, men and women, and each a leader in their own right, attended the fourth annual Vaisakhi reception host- ed by Mr Cameron.Regardless of motive or objective, credit must be given to the PM, or to Dave, as some call him, for recognising and acknowledging the contributions of main- stream community groups which make up the mosaic of multi-cultural Britain.
A key announcement that Mr Cameron made at this event was that, as of Monday 7 April, Sikhs in the UK would be exempt from wearing hard hats at construction sites. “From now on Sikhs don’t have to wear hard hats at construction sites in our country,” he said. “We have already stopped searching of turbans in the UK,” he added, describing British Sikhs as “absolute role models in integrating with the British society.” Construction sites are considered to be one of the most dangerous workplaces and hard hats are worn as a precautionary measure.
Here, guests from all over the country exchanged hugs, handshakes and business cards. Vegetarian canapés and soft drinks were served by catering staff.Then came the moment everyone was waiting for: Mr Cameron entered the room. As always, it was amusing to see several guests cut short their conversations with whoever they were chatting to and head towards the PM, in a desperate attempt to meet him.
For those meeting the PM for the first time, understood. But you’d think the regulars would give others a chance. Eventually, the PM arrived at the raised platform and gave his address:”I send my best wishes to everyone in Britain and around the world celebrating Vaisakhi,” he began. “This year marks 160 years since the first Sikh arrived in Britain. Since then, the story of British Sikhs has been one of success – of many thousands of people making a positive contribution in so many ways.
From the Sikh entrepreneurs and small businesses who are creating jobs, to the business leaders who are helping to boost overseas trade; from the hard working families who are getting on in life, to the sports- men and women who do our country proud, Sikhs are a key part of our island story.
In Britain, another aspect of Sikhs’ contribution stands out: “Seva”, or selfless service. We see it across the country – Gurdwaras which prepare meals (langar) for their com- munities; Free Schools giving children the best opportunities, charities helping their commu- nities, like those who went to help residents hit by the recent flooding.
As we celebrate the Sikhs contribution to Britain today, let’s also be reflect on what their ancestors did for this nation in the past. A hundred years ago, well over a million men from India, many of them Sikhs, fought alongside Britain in the First World War.
I’d also like to send my best wishes to other communities celebrating Vaisakhi in the Punjab, across India and around the world. So whether you’re in London, Jalandhar or Vancouver, once again I wish you a very happy and peaceful Vaisakhi.”
A beautiful hymn in Punjabi was sung by 17-year-old stu- dent Gurpreet Singh Chandan, of the Amrit Singh Jatha group, part of the Birmingham-based Guru Nanak NishkamSewakJatha, or GNNSJ. As a mark of respect guests were asked to remove their shoes and to cover their heads. Those able to sit cross-legged on the floor did so, while others chose to stand, as did the PM, clean shaven and wearing a navy blue suit.
One guest asked why such events were not covered in mainstream British press. An interesting and valid point raised. So in the grand scheme of things, does this mean events like these are of little or no significance for the British mainstream media? According to a report, 96% of British Sikhs would like to see more Sikhs on mainstream British TV, includ- ing in documentaries, sports- based features and in fictional dramas.
The youngest guest in the audience was NihalHari Singh, son of former Leicester Lib Dem MP Parmjit Singh Gill. Nihal, dressed in a traditional Indian outfit, who turned eight last Sunday, asked Mr Cameron, “is it hard work being Prime Minister?” Mr Cameron shook Nihal’s hand, smiled and replied: “Fortunately I have a lot of people to help me.” India’s High Commissioner to the UK Ranjan Mathai,lead- ing non-resident Indian indus- trialist Lord Swaraj Paul, Lord NavnitDholakia, deputy leader of the Liberal Democrats in the House of Lords and Dr Rami Ranger, winner of record five Queens’ awards for exports were among those who attend- ed this function.
Present from the ethnic media were: Manoj Kumar, Editor-in-Chief of Jagatwani, the newspaper,VasudevTuli from Zee Punjabi, PoonamTaneja from BBC Asian Network. Others in attendance were former Deputy Lieutenant of Leicestershire Resham Singh Sandhu, former Leicester MP Parmjit Singh Gill, Chairman of National Asian Business Association UdayDholakia OBE,Shalbinder Singh Malle,Rt Hon Hugo Swire MP, KetanGokani from Elite Mobile Limited, Amanda Solloway, Conservative Parliamentary Candidate for Derby North, Sukhbir Singh from GNNSJ, Ranbir Singh Suri from the now defunct British Asian Conservative Link, Mr Bhupinder Singh, MD, PNBIL,Mr.VivekChadda Director SNJ Group, Tommy Nagra, BBC Birmingham’s Head of Business Development, Jas Jassal, MayuriParmar and Alok Sharma MP, from Conservative Friends of India,Mr.JindyKhera M.D. KTC, Mr. Jayson Woura M.D. East End, Sir Mota Singh, Mr.Atul PathakMD Appt Corp Ltd., Priti Patel MP, Mr & Mrs Jas Parmar from Bedfordshire, Chris White MP,Mr.Sohi Singh, Sukhdev Singh SiddhuMinnister of Co-ordination (India House), Ashok Verma from Leicester, Satinder Singh from Gurseva, Minister for Communities Stephen Williams MP, Lord DaljitRana, Paul Uppal MP, Sun Kaur of United Sikhs – to list just a few. According to the 2011 Census, there are approximate- ly 430,000 Sikhs in the UK, with the vast majority (420,196) in England. Worldwide the Sikh population stands at around 27 million. The first Sikh settler in Britain was Maharaja Duleep SinghJi (1838-1893). Vaisakhi, the annual Sikh harvest festival, was first cele- brated in the Punjab region of India and commemorates the founding of the Sikh faith in 1699.
1 April, 2014
IHG® expands in Greater London as it signs six brands into its portfolio
InterContinental Hotels Group (IHG®), one of the world’s largest hotel companies today announced the signing of two further hotels in London with the Hotel Indigo® London – Barbican and Holiday Inn® – Watford Junction. As a result, over the last nine months IHG signed all six of its current European brands into its Greater London pipeline, further reinforcing IHG’s presence in the UK’s capital.
The two new signings join the InterContinental® London – The O2, Crowne Plaza® London – Albert Embankment, Staybridge Suites® London – Vauxhall and Holiday Inn Express® London – Ealing.
Due to open this summer, Holiday Inn Watford Junction will be a 92 -room property operating under a franchise agreement with Nine Hospitality Ltd. Featuring the Holiday Inn Open Lobby, the hotel’s excellent location is anticipated to attract a healthy mix of leisure and corporate guests.
Meanwhile IHG continues to build momentum in East London with the addition of another Hotel Indigo property – Hotel Indigo – London Barbican. The newly constructed 101-room hotel will operate under a franchise agreement with long standing Owner Partner Sanguine who currently have six IHG hotels open in the UK and two under construction. Situated in a vibrant area in the heart of one of London’s business hubs, the hotel is well placed to receive a steady stream of business travellers as well as leisure guests drawn to the local cultural and arts attractions. The hotel is due to open in 2016.
Vivek Chadha, Owner of Nine Hospitality said, “The Holiday Inn brand has a legendary reputation in the industry and so we’re very proud to be part of such an internationally recognised hotel company. The signing of Holiday Inn Watford Junction kicks off what is destined to be a fantastic relationship with IHG. We are looking forward to opening our hotel doors to what is set to be a busy yet inviting Open Lobby for our guests in Watford Junction in just a few months.”
Angela Brav, CEO Europe, IHG said, “IHG already has a significant presence in Europe. Signing all six of our current European brands in Greater London is just fantastic and demonstrates the continued momentum in the market. We see plenty of room to grow here and these signings demonstrate the ability of our brands to penetrate markets across Europe both old and new. IHG’s relationship with our owners is absolutely key in maintaining long-term sustainable development and I’m thrilled to see us all growing together.”
Simon Matthews-Williams, Chairman of Sanguine said, “Sanguine Hospitality Ltd is delighted to have signed a franchise for the proposed Hotel Indigo Barbican. This is our first flurry into London and demonstrates our confidence in the brand and complements our other Hotel Indigo projects in Liverpool, Birmingham, Newcastle and Manchester. The brand is innovative and being relatively new, has substantial growth potential.”
IHG’s broader family of nine brands in nearly 100 countries and territories meets the needs of guests, whatever the occasion – whether an overnight getaway, a business trip, a family celebration or a once-in-a-lifetime experience. All IHG hotels participate in IHG’s guest loyalty programme, IHG® Rewards Club which is the industry’s first and largest guest loyalty programme with 77 million members. It is free to join at IHGRewardsClub.com.
* Figures as at 31st December 2013.
For UK/European media enquiries: Please contact Laura Baker on 01895512820 or on firstname.lastname@example.org
Notes to Editors:
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of nine hotel brands, including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites®, EVEN™ Hotels and HUALUXE™ Hotels & Resorts.
IHG manages IHG® Rewards Club, the world’s first and largest hotel loyalty programme with over 77 million members worldwide. The programme was relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally.
IHG franchises, leases, manages or owns over 4,700 hotels and 687,000 guest rooms in nearly 100 countries and territories. With more than 1,100 hotels in its development pipeline, IHG expects to recruit around 90,000 people into additional roles across its estate over the next few years.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihg.com/media, www.twitter.com/ihg, www.facebook.com/ihg or www.youtube.com/ihgplc.
Clarence House in Newport is in under new ownership after the eleven storey office block was bought at auction in London for £3.95m.
The tower block, overlooking Rodney Parade, has been bought by a London- based property investment firm.
The building was sold at auction in London by Allsops – with the price representing an initial yield of 19.43 %.
It was acquired out of receivership having previously been owned by property fund Armsworth.
David Jones, of Hutchings & Thomas Chartered Surveyors, which are based in the building and were joint auctioneers for the sale, said: “There was keen interest from both home and abroad in acquiring the building before it went to auction, which is very encouraging for the city of Newport.
“The new owners plan to make improvements both internally and externally to the building to boost its overall appeal to existing and prospective occupiers.”
Mr Jones said one of the first steps will be to reduce the rent offered to new occupants at the 100,000 sq ft building to an introductory rate for the first yea of £5 per sq ft.
Mr Jones said: “This market leading rent is aimed at attracting start ups and those looking to take their business to the next stage, to consider locating to Clarence House. “We believe this very competitive rent could prove most attractive to businesses and individuals who may currently be looking at quality office space in Cardiff or Bristol. Clarence House is currently two thirds occupied by a number of clue chip clients including the Courts Service, GXS and AC Nielson. There is some 30,000 sq ft available predominantly on floors 8, 9 and 10.”
Hutchings and Thomas are joint letting agents with Savills on Clarence House
A certain future is secured for The Ramada Hotel in Cannock which has been bought by Nine Hospitality.
The hotel and the surrounding buildings within The Orbital Plaza have all been purchased by the Watford based group which has been established for more than 25 years, bringing experience of the hospitality industry to Cannock, having previously invested in large hotels and apartments.
New jobs and investment are all planned for the hotel, which is about to enjoy a makeover including improvements to the décor of the hotel, new furniture and soft furnishings.
Over the next couple of months £70,000 worth of investment will be made in the hotel and the next step will be more building work and further investment.
Gina Chadha, Executive Director of Nine Hospitality, said: “We are investing in the hotel for the long term, we see the hotel’s potential and want to make the iconic building play more of a part within its community.
“Part of our plans will be to improve the rooms we have available for weddings to allow us to accept larger weddings in better rooms, we understand the hotel is well established and successful for weddings and events, but we believe we can improve on it and offer more to people wanting to hold a special event at the hotel.
“We also want to celebrate The Sky Room, and make this a venue local people can use in the evenings to enjoy the views and the atmosphere of the room.”
New jobs will be created as a result of the long term plans as the new owners are looking to add to the existing team and want to recruit people for most areas of the hotel, as well as letting agents for the apartments within the complex, builders, maintenance people and wedding planners.
It is also expected that the hotel will attract new business to the area as it looks to work with blue chip companies and tour groups, bringing tourists and groups to the area.
As part of the plans it is expected that new businesses will join the existing companies based in the Orbital Plaza and the apartment space will be increased.
Gina Chadha, said: “We are looking forward to a busy Christmas at the hotel as our parties are almost sold out and then we will look towards 2014 and the future and offering more to local people in the way of jobs as well as reasons to visit the hotel.”
Anyone wishing to enquire about holding an event at the hotel, or who may have questions relating to an existing booking, should call the hotel directly on 01543 461361 or email email@example.com
The Orbital Plaza near the M6 toll road in Cannock, which comprises a Ramada hotel, has been acquired by London-based investment firm Nine Hospitality Management.
Former owners Pritchard Group went into administration in 2012 and had been looking for a buyer.
With plans to invest a “five to six-figure” amount in the building, Nine Hospitality intends to revamp the site – which includes 95 hotel bedrooms, 26 serviced apartments, board meeting rooms, a restaurant and a bar – with a higher specification interior and updated exterior.
A spokesperson for Nine Hospitality said that the company intended to make the “iconic” building, which had become “a bit tired”, more “fresh”. She also confirmed that there were plans to extend the opening hours of the “Sky lounge”, on the top floor, to make it more attractive for locals and businesses to use in the evenings.
The surrounding Plaza facilities also include offices, a day nursery and crèche, a day spa and two restaurants.
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