Premier Inn Birmingham Sold to Standard Life

By Dev Anand | 30 August 2017

Date: August 2017

Location: Birmingham, UK – City Centre

Name: Premier Inn City Centre, three star

No of keys: 152

Seller: Private investor, advised by MK2 Real Estate & Downing

Buyer: Standard Life Assurance, advised by BNP Paribas

Price: £26.55m

Price per key: £175,000

Tenure: 20-year leaseback to Premier Inn

Yield: 4.12%

THPT Comment: This deal shows continued confidence in Birmingham city centre and Premier Inn and is a fair deal for both sides.