Access the main content

Investments

Real estate investment trust UKCM acquires a hotel in Leeds

UK Commercial Property REIT Limited has acquired an upscale hotel development opportunity in the Yorkshire city for €73.2 million (£62.7 million).

The development of the hotel was a joint venture with Marrico LLP and Helios, it will be funded by UKCM after the site was purchased from Leeds City Council. Interstate Hotels & Resorts will operate the future 12-storey hotel under lease.

It will comprise 305 rooms over 140,000 square-feet and provide meeting rooms, a gym and a diverse food and beverage offering, including a rooftop bar. Located centrally in Leeds’ Sovereign Square, the hotel will offer easy access to nearby office buildings and the main railway station.

Hyatt Hotels have a 25-year franchise agreement in place for the high-end hotel. It will provide a long- and short-stay option to guests through its split Hyatt House and Hyatt Place branding.

The hotel development is expected to be completed in 2024.

[This hotel will] be operated by one of the world’s leading international hotel firms, it is also designed to be future fit with strong ESG credentials and a flexible split between short and long stay brands.

Will Fulton and Kerri Hunter, Fund Managers at UKCM

Loading...

You have consulted 10 content. Go back home page or at the top of the page.

Access next article.

Sign up to add topics in favorite. Sign up to add categories in favorite. Sign up to add content in favorite. Register for free to vote for the application.

Already signed up? Already signed up? Already signed up? Already registered?