F&C Reit Asset Management has put up for sale nine Swallow Hotels.
It has instructed Christie & Co to market the nine hotels, which are spread across England and Scotland.
The hotels, which are available individually or as a group, consist of eight freehold properties and one long leasehold and include a 88-bedroom Belstead Brook Hotel in Ipswich, 103-room Swallow Hotel Gateshead and a 116-room Swallow Hotel in Glasgow.
The long leasehold site is the 125 room Swallow Hotel in Stockton-on-Tees.
The hotels, which in the majority are in central city and town locations, are being sold free of the existing management and branding.
Jeremy Jones, director at Christie + Co, said: ‘It is unusual that such a diverse range of assets, such as this, is brought to the market. These traditional hotels will have broad appeal for owner operators and investors looking to improve them through capital investment and re-branding. We anticipate multiple, competitive offers on these properties.’
REIT bought 13 Swallows hotels valued at £70m in November 2006, three months after the hotel company went into administration.
It sold three former Swallow hotels to Moorfield earlier this year.