The Ability Group has acquired the 4-star Tamburlaine Hotel, located in Cambridge, United Kingdom for over €64.4m (£55m). The property will be operated by Dalata Hotel Group under a new FRI (full repairing and insuring) lease for a 30-year term with index-linked five-year rent reviews. The hotel will be rebranded as Clayton Hotel Cambridge in the coming months.
The Tamburlaine Hotel, newly built in 2017, has 155 bedrooms, a restaurant and bar as well as extensive conference and meeting facilities. The hotel is superbly located, adjacent to Cambridge Railway Station, at the very centre of the CB1 business district and within a walking distance of the city centre. A reconfiguration of the internal layout of the hotel will result in an additional 5 bedrooms.
Dermot Crowley, Deputy CEO - Business Development and Finance, said: "Cambridge has been a priority target city for our Clayton brand, and I am delighted that we have secured such a high-quality, modern hotel in the centre of the city. The acquisition of the leasehold interest of this hotel is another important step in our stated strategy of expanding our Maldron & Clayton brands in key cities across the UK. The property is an ideal fit for our Clayton brand, under which we now operate nine hotels across seven cities in the UK. We look forward to getting to work immediately, with the existing hotel management team, to bring Dalata hospitality to the visitors and residents of Cambridge."
