The Sheffield Metropolitan Hotel has been placed on the market on behalf of RBS. The specialist hotels team of Colliers International has been instructed to market this rare city centre hotel opportunity and are seeking offers in the region of £2.5m.
Located in the Quayside District of Sheffield, just five minutes from the city centre, the Sheffield Metropolitan Hotel boasts a prominent roadside position alongside the River Don. The hotel also benefits from plans by Sheffield City Council to invest £3.6m into regenerating the city’s riverside business district and principle hotel area.
The 10-storey Sheffield Metropolitan Hotel provides 111 letting rooms, a large open plan ‘Brassiere-style’ restaurant, large bar, meeting suite (which caters for 40 in theatre style and can be partitioned to make two separate meeting rooms), bike store, and 12 car parking spaces.
The Hotel also benefits from an additional development opportunity in the form of the former petrol filling station shop. The shop is currently vacant and in shell condition and has had plans drawn up for the site to be remodelled to create a cycle shop and workshop alongside a large café/hotel entrance lobby. These initial plans have been considered by a local planning authority and received a positive response.
On the instruction, Julian Troup, Head of UK Hotels, Colliers International, said: “The Sheffield Metropolitan provides a rare opportunity to acquire a large city centre hotel with opportunities to substantially increase trade.
“The Sheffield Metropolitan is in the heart of a regeneration zone which will see the corridor linking the Riverside Business District and Castlegate area to the rest of the city centre transformed, as the traditional city core continues to expand. For the right buyer, there exists an exciting opportunity to reconfigure the ground floor of the hotel to make the most of these new surroundings. Coupled with the further development opportunity presented by the former petrol filling station shop, we expect to see high levels of interest for the Metropolitan.”
This latest instruction in Sheffield follows Colliers’ involvement in the sale of The Cutlers Hotel in Sheffield City Centre in December to Saxon Hotels, the company owned by Chairman of the Football Association and former director general of the BBC, Greg Dyke. Colliers handled the sale on behalf of joint administrators, FRP Advisory, and received multiple bids above the asking price from both UK and international buyers.