Ballymore sells London hotel for EUR 44m

Irish property group Ballymore has sold the Radisson Edwardian New Providence Wharf hotel in London, to Edwardian Hotels for £37.5 mln (EUR 44 mln).

CBRE Hotels, which in 2008 provided asset management support, was retained in the spring to sell the four-star deluxe hotel, which was brought to the market in June.

Also in the UK, CBRE Hotels is currently marketing the long leasehold of the new Travelodge Hotel Southport, on behalf of developer Ribble Property Investments.

The development has a prime location on Lord Street in Southport near Liverpool. Currently under construction it will occupy the six-storey Ribble Building, a Grade II listed former bus station and will boast 101-bedrooms and restaurant when complete.

Travelodge has signed a 25-year lease for the Ribble Building.