London & Regional has bought the Crowne Plaza Cambridge hotel from administrators at Grant Thornton.
The 198-bedroom hotel is thought to have been sold for in excess of its £35m asking price.
The Crowne Plaza, which contains more than 3,500 sq ft of meeting rooms, was brought to the market last August and offered with vacant possession.
Jeremy Jones, director of corporate hotels at Christie + Co said: “The hotel’s superb all-round proposition, with high-quality bedrooms, first-class corporate meeting room facilities, and health and fitness facilities all drive high visitor and tourist trade. The opportunity to acquire the hotel made for an extremely competitive sales process, which was reflected in a highly competitive bidding to secure this profitable hotel which benefits from a leading global brand and incumbent manager in InterContinental Hotels Group.”
annabel.dixon@estatesgazette.com
