Evans Randall Investors has sold the Croydon Park Hotel to Croydon Council for £29.8m.
The private equity company put the hotel on the market for £25m in June, having acquired the freehold for £18.2m less than five years ago, and has received above the asking price in a deal which continues the trend of increasing council investment in real estate. Dalata Hotel Group sold Kasterlee UK, the company which held the leasehold interest in the Croydon Park Hotel, in 2017 having acquired it as part of a four hotel portfolio for €40m (£35m).
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