Malaysian United Industries is selling a freehold land measuring approximately 4.2 acres together with a 111-room hotel in Shirley, Solihull, West Midlands, England, the United Kingdom for a cash RM36 million.
The Property comprises a full service, three-star hotel with 111 guest bedrooms, a 70-cover restaurant and 20-cover bar, a 35-cover tea room, 90-cover pub, 7 meeting rooms, and leisure club, which stands within a site providing car parking for approximately 280 vehicles. The hotel currently operates under the name “The Regency Hotel” and had previously operated under the name of “Corus Hotel Solihull”.
The original building comprises a three-storey bay fronted dwelling dating from the Victorian period, which was converted to a restaurant and banqueting complex in the 1950s before being converted to a hotel in the 1980s. A rear extension was added around 30 years ago. The original building is of a traditional build with rendered facades and the later extension is brick-built. The Land occupies an irregular shape, bounded by Stratford Road (A34) to the southwest, while all other sides are bounded by commercial and retail units to the north and east. The Property has a total land area of approximately 4.2 acres
It is located in the Shirley district of Solihull, 10 miles southeast of Birmingham city centre.
The proposed disposal provides the group opportunity to unlock and realise the value of the Property whilst providing gross proceeds of RM36.22 million arising from the sale of the Property. The proceeds will enable MUI to strengthen its cash flow, and at the same time, provide additional funds for capital and operating expenditure as well as working capital.
