UK regional hotel investment opportunity launches
Specialist business property adviser Christie & Co and global real estate advisory firm Cushman & Wakefield have been jointly instructed to market the hotel trading as the ‘DoubleTree by Hilton Swindon’, a well-located full-service hotel with value-add potential.
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The hotel represents a rare opportunity to acquire an upscale, full-service hotel, free of management, with a host of opportunities to add further value through extension of the key count, refurbishment of guest rooms and further development of the conferencing facilities.
At present, the hotel comprises 171 spacious, en-suite guest rooms with the potential to extend this to 181 rooms (subject to brand approval). There is also a full suite of amenities including two food and beverage outlets, fitness and wellbeing facilities, and the most extensive conferencing and event facilities in the Swindon area at over 1,115 sqm.
The hotel benefits from excellent connectivity and accessibility, well-placed at junction 16 of the M4 and just 50 minutes by direct train to central London. This supports a diverse demand mix, ranging from local corporates to leisure travellers visiting nearby Bath, Bristol and the Cotswolds, as well as hosting in-house conferencing events and weddings.
The hotel stands to benefit further from growing corporate demand following the consolidation of major corporates to Lydiard Fields Business Park, where the hotel is located, and nearby Windmill Hill Business Park - a micro-market that stands as a prime destination for major corporates, benefiting from the highest quality buildings and premium transport links.
Swindon is undergoing several large-scale real estate and infrastructure initiatives, set to boost the local economy and drive hotel demand, including Panattoni’s 7.5 million sqft logistics and industrial scheme the ex-Honda plant. The town is the established home of global corporates such as Nationwide, Zurich, Intel and Dyson.
Jeremy Jones, Head of Brokerage at Christie & Co, comments, “The joint agents are delighted to be launching this substantial hotel asset to the market. Offering a profitable track record and having undergone substantial investment, the hotel offers further asset management potential to grow profitability benefiting from the growing appeal of the business parks around Swindon".
Ed Fitch, Head of Hospitality UK & Ireland at Cushman & Wakefield, said: “Swindon is experiencing significant transformation with a depth of both private and public capital in deployment across a spectrum of projects from Panattoni’s redevelopment of the ex-Honda plant to investment into the town centre. The hotel stands to benefit from this evolution, underpinned by its strategic location at the south-west side of the town on the M4, the preferred destination for local corporates. This, when combined with potential to extend the key count and execute a pre-designed room refurbishment programme (subject to brand review), presents a new owner the potential to drive significant NOI uplift and value-add returns.”
The freehold interest in the hotel is being jointly marketed by Christie & Co and Cushman & Wakefield.
For further information on this press release, contact:
Jasmine Davis, Corporate Communications Manager
P: +44 7561 115179 or E: jasmine.davis@christie.com
Contact the brokerage team:
Jeremy Jones, Head of Brokerage - Hotels
P: +44 7764 241 284 or E: Jeremy.jones@christie.com
Elton Chang, Associate Director - Hotels
P: +44 7548 705 374 or E: Elton.chang@christie.com
Ed Bellfield, Regional Director – Hotels
P: +44 7713 061 171 or E: ed.bellfield@christie.com
Anastasia Cooper, Analyst – Hotel Brokerage
P: +44 7561 114 981or E: Anastasia.cooper@christie.com
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