Hotels & leisure news – Page 8
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News
Frogmore and C1 seek development partner to double size of Hilton London Olympia Hotel
Frogmore Real Estate Partners and C1 Capital are seeking a partner to redevelop and ultimately own the Hilton London Olympia Hotel in Kensington, West London, after redevelopment plans were approved last night (19 October) to more than double the size of the property from 404 to 905 bedrooms.
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Belfast’s ETAP Hotel on market for offers in excess of £7.2m
Belfast city centre’s budget ETAP Hotel has hit the market with agent CBRE Northern Ireland inviting offers of over £7.17m on behalf of the unnamed vendor.
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Town Centre Securities to ramp up development pipeline
Town Centre Securities is looking to step up investment in its development pipeline, which has an estimated gross development value of over £400m, according to its results for the year to the end of June.
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Premier Inn owner targets ambitious expansion on back of strong results
Premier Inn owner Whitbread is set to boost expansion spending by £100m as it takes advantage of strong profits to target 125,000 rooms across the UK and Ireland.
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JD Sports poised to take House of Fraser space at Cwmbran Centre in South Wales
JD Sports is believed to have agreed a deal to take over the former House of Fraser department store in the Cwmbran Centre in Torfaen, South Wales.
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Cohort Capital refinances Covent Garden hotel with £73m loan
Specialist lender Cohort Capital has provided a loan worth £73m to a Qatari-based group for the refinancing of the five-star NoMad Hotel in London’s Convent Garden.
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Leonardo Hotel in Newcastle hits the market for £31.8m
Knight Frank has been appointed to sell the 274-bedroom Leonardo Hotel in St James’ Gate, Newcastle, for £31.8m on behalf of an unnamed UK investment fund.
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Clearbell’s Amber Portfolio proceeds reach £174m after sports complex sale
Clearbell Property Partners II LP has sold the final asset in its mixed-use Amber portfolio for £8.40m to Manchester-based property company Elstar.
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LXi REIT cheered by ‘green shoots’ despite reporting valuation fall in trading update
LXi REIT pointed to “green shoots emerging” as it reported a fall in the value of its property portfolio from £3.36bn on 31 March to £3.19bn on 30 September.
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Dalata buys Edinburgh office site for £48m hotel conversion
Ireland’s largest hotel owner and operator, the Dalata Hotel Group, is spending £48m to buy and convert an Edinburgh office building from Aviva Life & Pensions UK.
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ASK Partners provides £25m loan to support Bristol airport Hilton Hotel extension
Hilton Hotels will add a 50-bedroom extension to its 201-bed Hampton by Hilton property at Bristol airport after the property’s landlord, Ability Group, agreed a £24.6m, 36-month loan facility with ASK Partners.
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Whitbread adds 100-room Dublin hotel to Premier Inn portfolio
Whitbread has secured its eighth location in Ireland for its Premier Inn hotel brand at Usher’s Quay, in the Dublin 8 district.
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Warner Leisure Hotels snaps up two hotels in £100m investment
Bourne Leisure subsidiary Warner Leisure Hotels is to spend £100m acquiring and renovating Dalmahoy Hotel and Country Club near Edinburgh and Forest of Arden Country Club near Birmingham.
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BBC considers extending lease at Birmingham’s Mailbox
Mailbox REIT said the BBC is likely to stay for up to another two years at the mixed-use Birmingham scheme when its lease expires in 2026.
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PureGym completes £805m refinancing in ‘huge vote of confidence’
The chief executive of the UK’s largest gym chain PureGym has heralded a “huge vote of confidence” in its expansion plans after its holding company Pinnacle Bidco completed a refinancing deal worth £805m.
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London spy tunnels to be turned into tourist attraction in ambitious £220m plans
A mile-long network of secret tunnels 40m underground is set to become a unique tourist attraction under £220m proposals for an ambitious commercial development underneath London.
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Whitbread snaps up New London House in £56.5m deal for hotel conversion
Hospitality group Whitbread has acquired the freehold interest in New London House in the City of London from unnamed clients of Orchard Street Investment Management for £56.5m..
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Leisure assets prove popular in Acuitus’ £31m September sale
An Odeon cinema in Hastings was snapped up for £250,000 above its guide price just before the start of Acuitus’s latest auction on 21 September, which raised £31.39m, with 85% of the lots offered sold.
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Really Local Group named anchor tenant for phase two of £68m Nuneaton regeneration
Nuneaton and Bedworth Borough Council has named developer Really Local Group as the anchor tenant for a 14,000 sq ft mixed-use town centre scheme in Nuneaton, Warwickshire.
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Third Space gains £88.5m funding to support opening of new clubs
London-based luxury health and fitness brand Third Space has secured £88.5m of funding from OakNorth and Searchlight Capital Partners to support its business plan and the opening of additional clubs.