Leicester hotel and casino sold for £8.75m

A Leicester city centre hotel and casino have been sold by Tritax for £8.75m.

The property, which sits opposite the Highcross Shopping Centre, consists of a 95-bedroom Travelodge hotel and Grosvenor Casino totalling around 63,000 sq ft along with 55 car parking spaces.

Savills, who facilitated the deal, marketed the site last year with a guide price of £10.2m.

It said the properties had been sold to a “UK family office”.

The hotel opened in 2004 and underwent a £325,000 investment 10 years later.

The casino occupies the ground, first, and second floors of the hotel. It is home to a number of bars and a restaurant area which covers 50 people.

Victor Ktori, Head of Commercial Real Estate at Savills Nottingham, said: “We are delighted to complete the sale of this prime Leicester City centre property which attracted robust demand driven by strong investment metrics.”