The Novotel and Ibis hotel in Reading has been bought by one of Invesco real estate’s funds for £35m – a 5% yield.
Located on Station Road, Reading the asset has 360 bedrooms combined.
The hotel is let on a lease to Accor for another 27 years for a rent of £2m pa.
It was sold on behalf of a private individual.
JLL advised the vendor; Invesco was unrepresented.
All parties declined to comment.
