On behalf of private investors, Cooper Rose Real Estate has sold the long leasehold interest in the Jurys Inn hotel on Station Road in Nottingham, East Midlands.
The property comprises a modern 264 Bedroom hotel opened in October 2005. All rooms are en-suite with air conditioning and free Wi-Fi. Additional facilities include a Costa coffee and hotel restaurant and bar. The hotel has recently been refurbished at a cost of £2.2m.
The property is situated close to Nottingham rail station and tramway and within walking distance of the city centre.
The investment is secured to to Jurys Hotel Management (UK) Limited with a guarantee from Jurys Inn Group Ltd on a 35 year lease from 16 October 2005, expiring 15 October 2040
The current passing rent is £1,749,738.57 per annum, which is subject to uncapped RPI compounded uplifts every 5 years, with the next review on 16 October 2020.
The details of the transaction are confidential.
Contact Ben Rose or Giles Cooper