CBRE Hotels EMEA has been appointed to sell the Croydon Park hotel - a four-star standard, freehold asset occupying a centrally-located site in Croydon, with good access to central London. The broker did not disclose a guiding price for the asset.
CBRE Hotels EMEA has been appointed to sell the Croydon Park hotel - a four-star standard, freehold asset occupying a centrally-located site in Croydon, with good access to central London. The broker did not disclose a guiding price for the asset.
The hotel was originally built as a Holiday Inn in 1987 and changed to The Croydon Park Hotel in 2002 with development potential to extend to the front of the hotel. It is currently operated on a lease.
The asset offers 211 bedrooms as well as conference space for more than 240 delegates, five meeting rooms, a bar and restaurant, leisure club including a swimming pool and gymnasium as well as underground car parking spaces for 110 vehicles.
'The long term rental income of this investment will be an attractive proposition to many buyers along with the reversionary nature of the investment, as the lease expires in approximately 19 years,' commented Craig Millward, director at CBRE Hotels, EMEA. 'The London market is witnessing volumes of transactional activity even in these challenging times and we therefore expect considerable interest in this asset.'
