Hotel Transaction Bulletin HVS Europe

PITCH acquires Premier Inn hotel in Leeds, UK from Town Center Securities

UK property investment manager Mayfair Capital’s Property Income Trust for Charities (PITCH) fund has acquired the Premier Inn hotel in Leeds, northern England, from UK REIT Town Center Securities (TCS), for £16 million (£118,000 per room), representing a published net yield of 4%. The 136-room property is leased to Premier Inn Hotels Ltd until 2042, with a guarantee from its owner Whitbread Plc, subject to index-linked rent reviews. The eight-story purpose-built hotel was built in 2017 and has a restaurant and bar.

Neal Khanna acquires Hunton Park Hotel, Watford, UK, from Serani Hotels

British entrepreneur Neal Khanna has acquired the Hunton Park Hotel in Watford, located 30km northwest of London, from UK-based Serani Hotels at an indicative price of £16 million (258,000 £ per room). The 62-bedroom country estate has been acquired for renovation, with £3million allocated to improve the property. The hotel, which sits on 22 acres just outside Watford, will be renamed The Hunton Park. The asset will continue to be managed by UK hotel operator Countrywide Hotels, which also manages Neal Khanna’s other hotel interest, the 100-room Denham Grove Hotel in Buckinghamshire.

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Partnerships, Mergers & Acquisitions

Mary I. Bruner