Singapore company the Cockpit Group has bought the Chamberlain Park Hotel, Birmingham from Jury’s Doyle for £8.25m.
The acquisition of the hotel on Alcester Street represents the group’s second acquisition in the UK. It also owns the Paragon Hotel on Lillie Road in London as well as five hotels in Australia.
The Chamberlain Park hotel has recently undergone refurbishment and comprises 250 rooms with banqueting and conference facilities.
It was acquired by Jury’s Doyle earlier this year along with the Chamberlain Tower hotel for £42m. The Cockpit Group intends to retain the hotel as an investment.
The Cockpit Group is a private company with a majority shareholding owned by the Teo family. The group has disposed of around £200m of property in the last four years which it has so far used to reinvest in hotels.
Christie & Co represented Jury’s Doyle and Creative Estates acted for the Cockpit Group.
EGi News 16/07/01
