Asian hospitality trust CDL Hospitality Trusts (CDLHT) has acquired Hotel Indigo Exeter in the heart of Exeter, UK, for £19.4m (€23.3 mln).
Savills acted as advisors on the sale which will be fully funded through debt.
The luxurious 104-room property boasts a prime location, close to the high street and the Princesshay Shopping Centre, Exeter's leading retail hub. Amenities include three food and beverage outlets, a rooftop bar offering city views, a gym, and an exercise studio.
The freehold property is also conveniently located near the city's commercial district, major transport hubs, and popular attractions.
The purchase also includes two retail units, leased to Mountain Warehouse and Holland and Barrett, on Exeter's High Street.
James Greenslade, director in the hotel capital markets team at Savills, said: ‘The sale of Hotel Indigo Exeter provides the purchaser with an exceptional and newly developed, boutique hotel along with two retail units in a prime location within Exeter. Given its stunning location and strong market fundamentals we understandably received a high level of interest for the hotel and are delighted to find a new owner who will continue its legacy.’
Michels & Taylor has been entrusted with the management of the hotel which will continue to operate under IHG’s Hotel Indigo brand.
With this addition, CDLHT's portfolio now comprises 21 properties, encompassing 4,924 hotel rooms, 352 Build-to-Rent apartment units, and a retail mall. In the UK, the trust has three hotels and a residential build-to-rent property.
