08 December 2015, London: Aprirose, the real estate investment company, has landed the Leonardo Hotel, Heathrow for £25.5 million from Standard Life Assurance Limited.
The Leonardo Hotel is a 130,000 sq. ft. four star hotel, situated just north of Heathrow Airport and has outstanding transport links to Central London. Aprirose has acquired the property on a lease term of 25 years.
Manish Gudka, Chief Executive Officer at Aprirose, said: “It is a great asset to add to our growing hotel portfolio, strategically located at one of the busiest airports in the world.
“Heathrow’s status as an international airport means there is high demand for high standard hotel space for international business travellers in the area and the Leonardo Hotel fits with our strategy of buying quality assets in key locations.”
Gary Jones, Chief Operating Officer at Aprirose, added: “The Leonardo Hotel is well positioned next to Heathrow airport. It is an established international brand who are keen to expand further into the UK market.”
The hotel, which services Heathrow and is currently the subject of a multi-million pound refurbishment, contains four floors and 230 rooms. Originally built in 2000, the hotel’s facilities include a restaurant and bar, secured underground parking, a fitness area and two spa treatment rooms. The hotel was also developed with a conference space comprising of 11 meeting rooms, with a total capacity for 130 people.
Brien Giuntini, Director at CBRE Hotels, advisor to Standard Life, said: “We were very comfortable recommending Aprirose as the preferred buyer to our client because of their reputation in the market as a proven and established purchaser of hotel real estate as demonstrated by their large portfolio.”
Leonardo Hotels is the European Division of Fattal Hotels.