The Ibis Styles Reading Oxford Road hotel has been sold off a £4.5 million guide price to a private purchaser who intends to continue running it as a hotel.
The Ibis Styles Reading Oxford Road, which is prominently located on a 0.74 acre roadside site, attracted a number of offers above the asking price after commercial property specialist Colliers called for best bids in response to a high level of interest. The final price is undisclosed.
The purpose-built property was marketed on a current or alternative use basis, as a 97-bedroom hotel with a supportive pre-application for development into a six-storey apartment block with 73 residential units.
