Date: January 2018
Location: Kingston-upon-Thames, Street, UK
Name: Combined House and International House – The asset includes two 10-storey buildings and a shopping mall comprising 144,200 ft² of the hotel and retail accommodation plus a 366-space multi-storey car park. The two hotels are let to Premier Inn and Travelodge, with retail units let to Argos, Poundland and Aldi. The car park is leased to NCP.
Seller: Private investor advised by BNP Real Estate.
Buyer: DTZ Investors, managed by Peter O’Gorman, Fund Manager ,…The acquisition provides the Fund with a well-diversified income stream, with approximately 55% of the income being derived from the two hotels. DTZ was advised by Robinson Webster.
THPT Comment: Interesting to have both Travelodge and Premier Inn in one portfolio