YT Realty Group has bought the 142-bedroom London Liverpool Street Travelodge hotel for £42.3m.
Chinese property tycoon Zhang Songqiao's Hong Kong-based investment group has acquired the 174-year leasehold interest on the property from Full Moon HoldCo, and will pay a passing rent of £2,069,144 per annum, subject to review in April 2017.
The 45,000 sq ft hotel is let on a 33-year lease to Travelodge and was extensively refurbished in 2014; the six-storey property also includes a café and a bar on the first floor.
The news comes shortly after Hong Kong-based Magnificent Real Estate acquired the Travelodge London King's Cross Royal Scot hotel earlier this month.
CBRE Group advised Full Moon HoldCo and Savills acted for YT. Travelodge was unavailable to comment.
Latest video from The Caterer