Camberley hotel sold to long-lease fund 17.10.17
Levy Real Estate has advised on the sale of the Premier Inn Hotel in Camberley to AEW UK Long Lease REIT for £8.465m.
The 95-bedroom hotel has a lease running for a further 20 years with five-yearly CPI-linked rent reviews. It occupies a prominent position on the corner of Park Road and London Road (A30) directly opposite the rear entrance to the Royal Military Academy Sandhurst. The sale reflected a net initial yield of 4.97%.
Levy’s Jeremy Grundy who advised on the sale comments: “The budget hotel investment market continues to be an attractive sector for long-term investment. We have advised on the transactions involving seven budget hotels and continue to seek further opportunities”.