03 October 2016, London: Aprirose, the real estate investment company, has sold the Premier Inn hotel in central Exeter to LaSalle Investment Management for £11.7 million.
The Premier Inn is a new build development on the former hospital site, Dean Clarke House. It comprises 120 bedrooms, with two ground floor retail and business units, above a subterranean gym and car park.
The sale of the Premier Inn hotel in central Exeter follows Aprirose’s sale of a portfolio of six quality pubs to LaSalle Investment Management in July.
Manish Gudka, Chief Executive Officer at Aprirose, said: “In recent years the Exeter hotel market has strengthened, making the Premier Inn an attractive investment. We have conducted a number of transactions since Brexit and will continue to look for strong opportunities across a variety of asset classes to add to our diverse £1 billion property portfolio. We continue to identify the most attractive assets for our investors and can act quickly and nimbly when the right business case presents itself.”
The Premier Inn is located within Exeter Town Centre, with direct links to Devon and Cornwall, as well as two railway stations St David’s and Central which serve London, the Midlands and the North.