Singaporean investor buys Cambridge hotel for £61.5m

10 September 2015 by
Singaporean investor buys Cambridge hotel for £61.5m

A Singaporean investor has made its European debut with the purchase of a Cambridge hotel for £61.5m.

CDL Hospitality Trusts acquired the Cambridge City hotel as part of its strategy to invest in markets with "good growth potential".

The 198-room city centre hotel had a net property income yield of 5.6% for the six months ended 30 June 2015, while CBRE, which advised seller London & Regional, cited a strong hospitality outlook for the UK with international tourist arrivals expected to hit a record 35.1 million in 2015.

Vincent Yeo, chief executive of the trust managers, commented on the acquisition: "This acquisition in Cambridge, UK, is in line with our strategy to invest in markets with good growth potential.

"Cambridge has been one of the strongest performing hospitality markets in UK and the burgeoning life science cluster will support the growth trajectory of the market. This acquisition of Cambridge City hotel is a rare opportunity for us to acquire a prime asset in a tightly held investment market."

CBRE predicts record investment levels in European hotels >>

TagsHotels
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 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.

close

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