Monday, 13 July 2015
McAleer & Rushe sell regional hotel portfolio for €111 mln (UK)
McAleer & Rushe has sold a regional portfolio of Jurys Inn hotels to four separate purchasers for £80 mln (approx. €111.1 mln) reflecting a blended net initial yield of 6.9%.
McAleer & Rushe sold the freehold of the 170 bedroom Jurys Inn, Western Way, Exeter to Lasalle Investment Management (LIM) for £16.5 mln (approx. €22.9 mln).
A UK institutional client of Sladen Capital Partners has bought the long leasehold interest in the 310-bedroom Jurys Inn, 31 Keel Wharf, Liverpool for £29.25 mln (approx. €40.6 mln).
The Charities Property Fund managed by Savills Investment Management (SIM) has acquired the Jurys Inn hotel in Derby for £14.85 mln (approx. €20.6 mln). The 213-bedrooms property is located in the Cathedral Quarter of the city.
The final hotel which was sold to a private investor for £20m (approx. €27.8 mln) is the 264-bedrooms Jurys Inn Station Street, Nottingham.
Both the private investor and SIM were advised by Cooper Rose Real Estate. LIM was advised by NJB Hotels & Leisure Property and HSM.
Source: McAleer & Rushe