Cut price Cube hotel goes back on the market for £7.2m

Birmingham’s landmark Wharfside hotel has returned to the market with nearly £5m knocked off its asking price, less than a year after it was first listed at £12m.

The four-star Cube Hotel, a stone’s throw away from the Mailbox and a short walk to many of the city’s leisure attractions at Brindleyplace, contains 52 en-suite bedrooms alongside a Marco Pierre White franchise restaurant, cocktail lounge and a terrace with panoramic views of Birmingham city centre.

The business, which occupies four floors of the 25-storey Cube building, was put up for sale in August last year with a price tag of £12m, after operators MSHA Global Investments fell into administration.

The firm started insolvency proceedings in July, owing around £9m to creditors.

Now, discussions held between administrators Quantuma Advisory and “one or more interested parties” noted in an update report last year appear to have been unsuccessful, with the leasehold now back on the market with agents Knight Frank at a cut-price value of £7.2m.

Matthew Smith, partner at Knight Frank, said the sale offered a “superb opportunity” to acquire a prime hotel and restaurant in the centre of Birmingham.

“Birmingham continues to perform as an important leisure and economic hub, contributing to consistent levels of visitor traffic and hotel demand,” he said.

“The potential to rebrand the hotel element of the business opens a wealth of possibilities for future owners. We are delighted to be advising Quantuma Advisory Limited on this sale and look forward to engaging with interested parties.”

The leasehold has 110 years remaining on a peppercorn rent according to Knight Frank.

More information is available from the agents website.