trending Market Intelligence /marketintelligence/en/news-insights/trending/b0qqaImsqFy0Yr-Nf77UDw2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Report: London & Regional close to buying 2 UK hotels for up to £600M


Understanding the Basics of Social Housing Providers and Associations (SHPAs)


Climate Credit Analytics: Linking climate scenarios to financial impacts


Real Estate News & Analysis: April Edition


COVID-19 Impact & Recovery: Investment Banking

Report: London & Regional close to buying 2 UK hotels for up to £600M

London & Regional Properties Ltd. is expected to buy two of the U.K.'s largest hotels for between £550 million and £600 million, Property Week reported.

The assets include the 1,059-room Hilton London Metropole in Paddington, London, and the 790-room Hilton Birmingham Metropole in Birmingham.

The hotels were placed on the market with an asking price of up to £700 million in January 2016. They are being sold by Tonstate Group, which bought them for £417 million in 2006, according to the report.

The eventual purchase price reflects a yield of around 4.5%, deemed "strong" in the present climate, an unnamed source told PW.

The properties are believed to have drawn interest from Asian and Middle Eastern investors, as well as high-net-worth individuals and domestic buyers.