York city centre hotel sold in £13m deal

Lambert Smith Hampton (LSH), the commercial property consultancy, has completed the sale of a contemporary hotel located in York city centre.

Hotel 53, which had a guide price of £13m, has been acquired by Axcel Group Ltd and will form part of its hotel portfolio.

The building is located on Piccadilly, within York’s city walls.

The 100-bed hotel is just a short distance from the city’s retail offering, York Castle Museum, York Dungeons and indoor entertainment venue, the Barbican Centre.

Previously operated independently, the hotel experiences high occupancy rates throughout the year.

Hotel 53 also benefits from an on-site restaurant and cocktail bar, as well as a selection of business spaces and conference suites.

Alistair Greenhalgh, director – hotels at Lambert Smith Hampton, said: “Hotel 53 was sold off-market on behalf of private clients, illustrating the current appetite for prime city centre hotels.

“We wish our client a happy retirement and the new owners, Axcel Group Ltd, every success in their future plans for the hotel.”