Tuesday, 19 April 2011

Urban Splash Sell The Midland Hotel in Morecambe.

The Midland Hotel

By Karl Holbrook

Published on Tuesday 29 March 2011 07:47

A charity stalwart has vowed to invest in an iconic Lancashire hotel after snapping it up.

Chris Richardson, development director of the Clitheroe-based Lancaster Foundation, said The Midland Hotel on Morecambe seafront would “go from strength-to-strength” after the charity bought it for an undisclosed sum.
The Lakes Hotel group, which has run the hotel since it reopened in 2008 after an £11m two-year restoration programme, will continue to run the hotel which has been sold by Manchester-based property developer, Urban Splash.
Some of the profits from the hotel will be used for the charity work of the foundation, set up by John Lancaster, the founder of Ribble Valley conservatory group Ultraframe.
Mr Richardson said: “These investments enable the Lancaster Foundation to continue our charity work and support for projects such as The Grand and skate park in Clitheroe and many other charitable causes throughout UK.”
Urban Splash chairman Tom Bloxham said it was now bidding to secure planning permission to develop a second adjoining site.
He said: “We are very proud of the Midland Hotel and all that has been achieved since it opened in June 2008.
“The Midland is a much-loved building and it was a joy for us to be able to restore and re-open this iconic hotel once again.
“We have sold the freehold to the Lancashire Foundation in an off market transaction.
“The sale shows that there is a demand for quality Urban Splash assets.”

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