Hilton hotels go on market for £500m

29 June 2006
Hilton hotels go on market for £500m

A portfolio of 10 Hilton hotels has been placed on the market for £500m.

Their joint owners, Vincent Tchenguiz's Consensus and hotel investment vehicle the Farnsworth Group, bought the hotels in June 2002 for £336m, and have reportedly been preparing the portfolio for sale for several months.

At the targeted sale price, the investors would earn about £170m profit if they successfully offload the assets.

Tchenguiz described the sale as "timely", and said he expected it to generate a lot of interest.

It's believed the portfolio, which includes the Hilton Kensington in London, will be sold through sale-and-leaseback deals with long leases.

The nine other properties are located in Cobham, Croydon, East Midlands Airport, Leeds, Northampton, Nottingham, Tewkesbury, Watford and York. Property agent CB Richard Ellis is handling the sale.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking