McAleer & Rushe has sold a regional portfolio of Jurys Inn hotels to four separate purchasers for £80m reflecting a blended net initial yield of 6.9%.
Rob Millar director at Steerforth who advised McAleer & Rushe on the sales said: “The company decided to take advantage of the strong regional hotel market in order to release capital for future development and investment activities.”
- McAleer & Rushe sold the freehold of the 170-bedroom Jurys Inn, Western Way, Exeter to Lasalle Investment Management (LIM) for £16.5m.
- A UK institutional client of Sladen Capital Partners has bought the long leasehold interest in the 310-bedroom Jurys Inn, 31 Keel Wharf, Liverpool for £29.25m.
- The Charities Property Fund managed by Savills Investment Management (SIM) has acquired the Jurys Inn hotel in Derby for £14.85m. The 213-bedrooms property is located in the Cathedral Quarter of the city.
- The final hotel which was sold to a private investor for £20m is the 264-bedrooms Jurys Inn Station Street, Nottingham.
Both the private investor and SIM were advised by Cooper Rose Real Estate. LIM was advised by HSM.