A 52-bed Birmingham hotel, located at The Cube mixed-use development, has been snapped up by Caskade Group.
Hotel Indigo opened in 2010 and comprises 52 rooms, a Marco Pierre White restaurant and a whiskey and cocktails lounge.
Listed for £12.5m, the sale of the hotel and restaurant was completed with the Caskade Group.
The deal was led by Graham + Sibbald, with joint agents Fleurets.
The building was designed by architect Ken Shuttleworth of Make, whose portfolio also includes the Gherkin.
Hugh Anderson, director, hotel and leisure at Graham + Sibbald, said: “It is testament to the continued strength of the hotel market that we are able to announce the sale of Hotel Indigo, located in one of Birmingham’s most iconic buildings. We have worked collaboratively with the current operators, Kroll and the purchasers to secure a sale.
“This investment represents the buyer’s commitment to Birmingham and the faith buyers still have in the hotel and leisure sector after two very tough years. The G+S hotel team nationally continue to see strong demand for quality hotel assets.”
Hamid Ali, chief executive and chairman of Caskade Group, said: “We are delighted to be investing in Birmingham and have exciting plans for the hotel and restaurant. We are also looking forward to being one of the main host hotels for the Commonwealth Games this summer.”
Alongside the hotel, The Cube development includes bars, restaurants and leisure venues, alongside 135 residential apartments and 111,500 sq ft of office space.