'Gem' city centre hostel up for sale as owner takes on other commitments

Igloo Hybrid opened on Wheeler Gate, off Old Market Square, in July 2015 and is the city’s only hostel

Nottingham city centre’s only hostel has been put up for sale as its current owner is looking to hand over the reins.

Igloo Hybrid has been located at Eldon Chambers on Wheeler Gate, just off Old Market Square, since July 2015, offering 23 bedrooms with a capacity of 68 guests.

The independently-run hostel comprises two connected three-storey properties – Hybrid and Shed, which opened in 2019 and features mostly en-suite rooms.

Communal areas such as a shared kitchen, lounge area and a private courtyard are also available to guests.

The accommodation, which has recently been refurbished, includes a range of private and shared rooms, including double en-suite rooms, rooms with single or double sofa beds, and Japanese-style sleep boxes.

The property is now on the market for offers in excess of £1million as property adviser Christie & Co explained the hostel’s owner is looking to hand over the reins of the business due to having “several other” commitments.

Owner B Kristiansen said: “It has been an absolute privilege and a great adventure bringing derelict city buildings back to life, and for me and my awesome team to offer unique and colourful budget digs to visitors over these last 30 years.

“I am excited to see how a new passionate operator will continue to grow this much-loved gem of a small business for many more decades to come.”

Matt Hill, managing the sale on behalf of Christie & Co, added: “This is a unique and attractive opportunity for an experienced operator to acquire a prime city centre accommodation business.

“The business has a proven track record and offers a different profile to most traditional hotels, but is a model that is growing in popularity, and therefore one that should be seriously considered.

“We are already receiving viewing requests and would encourage interested parties to get in touch for more information.”