A portfolio of 15 purpose-built Marriott-branded motels totalling 3,230 rooms are up on the market for £500 million.
The motels are: the 191-room AC Resort Inverness, 181-room Moxy Glasgow Service provider Metropolis; 243-room Moxy Glasgow SEC, 230-room Moxy Edinburgh Airport, 118-room Moxy York; 190-room Courtyard by Marriott Chester Metropolis Place, 243-room Moxy Birmingham NEC, 210-room Moxy Milton Keynes, 214-room Moxy Bristol, 164-room Moxy London ExCeL, 437-room Moxy London Heathrow Airport, and the 208-room Moxy Southampton.
Kerr Younger, head of UK nationwide motels at JLL, mentioned: “This represents a high-quality choose service UK lodge portfolio that advantages from a well-invested and scaled in-house operational platform underpinned by best-in-class model recognition below Marriott’s highly effective world distribution platform.”
Vastint is a world funding group linked to Swedish retailer IKEA.
Properties are sustainable, as all of them maintain Inexperienced Key and LEED or BREEAM certifications, whereas they’ve a mean construct age of simply 5 years.
Phil Shields, head of UK actual property M&A at KPMG, added: “This portfolio affords important embedded progress potential and operational upside, underpinned by sustainability and scale — an distinctive proposition for strategic buyers.”
