FS JV License has sold the Project License hotel portfolio to Estee Group for a guide price of £14m.
The portfolio comprises 227 bedrooms across three regional hotels: two Holiday Inns in Dumfries and Darlington as well as a Mercure in Sheffield Parkway.
All three hotels are located near forthcoming regeneration schemes and benefit from future redevelopment opportunities.
Savills sold the hotel portfolio on behalf of FS JV License.
Tom Cunningham, director in the hotel capital markets team at Savills Manchester, said: “The sale of the portfolio enabled the purchaser to significantly enhance its representation within the hotel sector, while also spreading risk across different geographies.
“This latest success is another indicator of the popularity of the sector with investors looking to generate decent returns despite ongoing market volatility.”
Image @ FS JV License
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