Hotels
Hotels
Premier Inn, Old Trafford, Manchester
Client: Habro Properties
Sale Price: in excess of £20m
A 160 bed Premier Inn hotel adjacent to Old Trafford football stadium. The freehold interest was sold to an overseas fund in an ‘off market’ deal. The hotel was let to Premier Inn Hotels Ltd on a long lease, subject to a break clause in 2046 and benefitted from 5 yearly rent reviews subject to CPI increases, capped and collared at 2% and 6%.
Travelodge, T5 Heathrow Airport, London
Client: CBRE Global Investors
Sale Price: circa £40m
A 296 bed Travelodge hotel adjacent to Terminal 5 and the M25 Motorway. The freehold interest was sold by ESN, clients of CBRE Global Investors to a major UK institution. The hotel was let to Travelodge Hotels Ltd for a term expiring in 2038 and benefitted from 5 yearly rent reviews subject to RPI increases.
Travelodge, London City Airport, London
Client: Habro Properties
Sale Price: £17.5m
A 151 bed Travelodge hotel adjacent to London City Airport in the Royal Docks. The long leasehold interest was sold to Unilever (UK) Pension Fund, clients of CBRE Global Investors in an ‘off market’ deal at a yield of sub 5%. The hotel was let to Travelodge for a term expiring in June 2038, benefitting from 5 yearly rent reviews subject to RPIX increases.
Hilton Hotel, Grosvenor Street,
Haymarket, Edinburgh
Client: Habro Properties
Sale Price: In excess of £17m
An exceptional four star 131 bed hotel let to Hilton Worldwide for a further 79 years. The hotel is located 100 metres from the Haymarket tram and train stations, close to Edinburgh city centre. The heritable title was acquired by Staffordshire County Council Pension Fund, clients of Colliers Capital at a yield of sub 4.5%.
Premier Inn, Letcombe Street, Reading
Client: Private Overseas Investor
Sale Price: £13.25m
Prominent hotel adjacent to Reading’s Oracle Centre, comprising 151 bedrooms and let to Premier Inn for a further 18 years together with a ground floor retail unit let to Evans Cycles. The investment was acquired by ESN, clients of CBRE Global Investors at a yield of sub 4.5%.
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