Institutional investor acquires Birmingham hotel in £26.55m deal
A Birmingham city centre hotel has changed hands in a £26.55m deal.
The sale of the Premier Inn in Waterloo Street sets the new benchmark for regional hotel yields. It is also the latest in a series of hotel deals in the area.
The 152-bed budget hotel has been acquired by Standard Life Assurance from a syndicate of private investors represented by Downing.
The institutional investor fought off strong competition in order to secure the deal.
Niche property consultancy MK2 Real Estate advised the vendors.
Mark Johnson, a... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
