Premier Inn

Acting on behalf of a syndicate of private investors represented by Downing LLP, MK2 has successfully advised on the sale of this prime hotel located within Birmingham’s Central Business District. The 152 bed hotel is let to Premier Inn Hotels Limited with a guarantee from the Whitbread group at a rent of £1,166,795. MK2 advised on the regear of the lease with the tenant to provide a 20 years certain with 5 yearly rent reviews to the CPI index capped at 4.00%.

The purchaser Standard Life paid £26,550,000 reflecting a net initial yield of 4.12%.