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Project License’s hotel portfolio has been sold to Estee Group at a guide price of £14m.The portfolio comprises three regional hotels including two Holiday Inns in Dumfries and Darlington, alongside a Mercure in Sheffield Parkway, marking a combined total of 227 bedrooms.
All three hotels benefit from “future upside potential”, ranging from providing redevelopment opportunities, to being located within close proximity to forthcoming demand drivers and regeneration schemes.
Savills sold the portfolio on behalf of FS JV License Ltd.
Steven Fyfe, director in the hotel capital markets team at Savills Scotland, said: “Project License provided an excellent opportunity to purchase three well-located hotels with strong brand identity and considerable future asset management potential. We are very pleased to have completed the deal, achieving a strong price on behalf of our client.”
Tom Cunningham, director in the hotel capital markets team at Savills Manchester, added: “The sale of the portfolio enabled the purchaser to significantly enhance its representation within the hotel sector, whilst also spreading risk across different geographies. This latest success is another indicator of the popularity of the sector with investors looking to generate decent returns despite ongoing market volatility.”
Project License’s hotel portfolio has been sold to Estee Group at a guide price of £14m.The portfolio comprises three regional hotels including two Holiday Inns in Dumfries and Darlington, alongside a Mercure in Sheffield Parkway, marking a combined total of 227 bedrooms.
All three hotels benefit from “future upside potential”, ranging from providing redevelopment opportunities, to being located within close proximity to forthcoming demand drivers and regeneration schemes.
Savills sold the portfolio on behalf of FS JV License Ltd.
Steven Fyfe, director in the hotel capital markets team at Savills Scotland, said: “Project License provided an excellent opportunity to purchase three well-located hotels with strong brand identity and considerable future asset management potential. We are very pleased to have completed the deal, achieving a strong price on behalf of our client.”
Tom Cunningham, director in the hotel capital markets team at Savills Manchester, added: “The sale of the portfolio enabled the purchaser to significantly enhance its representation within the hotel sector, whilst also spreading risk across different geographies. This latest success is another indicator of the popularity of the sector with investors looking to generate decent returns despite ongoing market volatility.”
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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