Property investor expands portfolio with £4.6m hotel acquisition
A Warwickshire-based property investor has acquired a Midlands hotel in a £4.66m deal.
Cordatus Property Trust, which has an office in Stratford-upon-Avon, has acquired the 71-bedroom Travelodge Hotel in Tewkesbury from the trustees of the Alfred Hopkins Pension Fund (c/o LaSalle Investment Management).
The £4,665,000 acquisition reflects a yield of around 5.50% on a long unexpired lease to Travelodge with 27.6 years remaining.
The property trust is a programmatic venture between CBRE Global Investment Partners (CBRE GIP) 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...
