Nitenite Hotel on the market
Birmingham's Nitenite Hotel is on the market after the business entered administration. Property agent Colliers International has been appointed to sell the property.
Colliers' hotel team is acting on behalf of joint administrators Ryan Grant and Simon Wilson of Zolfo Cooper in Birmingham, who were appointed on 9 August.
The business, which employs 10 people in Birmingham, has suffered cashflow difficulties in recent months, said the administrators.
The Nitenite Hotel has 104 windowless bedrooms which were designed in the style of luxury yacht accommodation.
Opened in 2006 in the centre of Birmingham, the hotel was one of the UK’s first examples of a "pod" or "capsule" hotel.
Jonathan Wren of Colliers International said: "The Nitenite Hotel is one of central Birmingham’s most distinctive and popular hotels and, although now in administration, continues to trade successfully and with commendably healthy levels of profit.
"Having, as it does, unused space within the building to add additional bedrooms, and the opportunity for the brand to be rolled out to other cities and locations, the sale of Nitenite really is a unique opportunity for potential buyers."
Colliers said it is approaching the market on an 'offers invited' basis for the long leasehold property (125 years from 2006) and trade contents.
