Hotels for sale UK

News - 26/09/2018

Newly opened Hilton Birmingham Airport hotel acquired by BlackRock

The Blackrock UK Property Fund has completed its off market acquisition of the new 178-guestroom Hilton Garden Inn, Birmingham Airport, for an undisclosed sum.

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Lambert Smith Hampton’s hotel team brokered the deal with Blackrock and JLL’s Hotels & Hospitality Group advised Castlebridge Hotels, a subsidiary of Wylam Investments Ltd. 

The newly constructed hotel has been sold under management contract with Castlebridge Hotels, which will retain operational responsibility under a franchise agreement with the Hilton Garden Inn brand.  

Commenting, Paul Tebbit, Portfolio Manager Blackrock UK Property Fund said: “The Hilton Garden Inn, Birmingham Airport provides all the characteristics which we were seeking in a hotel investment. The purpose built and internationally branded hotel benefits from its strategic location immediately adjacent to Birmingham International Airport which is expected to see passenger numbers grow to in excess of 27m per annum by 2030.

"We also expect to see the hotel benefit from the opening of High Speed 2 in 2026 which will connect the airport to central London in under 50 mins. The exciting news that Birmingham will be host city to the Commonwealth Games will also strengthen performance during 2022, as well as the ongoing attraction of the National Exhibition Centre."

LSH Hotels Director Hugh Anderson said: “The proposition that we introduced to Blackrock provides a rare opportunity to acquire a newly completed Hilton Garden Inn hotel, benefiting from an on terminal location and ideally placed to capitalise on the strength of the market opportunity provided by Birmingham Airport."

!We feel that this deal is representative of the strong investment appetite for internationally branded corporate hotels, with commercially viable operational structures.”

Jenna Dienn, Castlebridge Hotels, added: “The Hilton Garden Inn, Birmingham Airport will benefit from an excellent mix of both corporate and leisure demand generators."


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