March 3, 2012 · 0 Comments
(www.hospitalitybusinessnews.com) CBRE Hotels EMEA has been appointed to sell The Croydon Park Hotel – a 4-star standard, freehold asset occupying a prominent, centrally located site in Croydon, with good access to central London.
The Hotel was originally built as a Holiday Inn in 1987 and changed to The Croydon Park Hotel in 2002 with development potential to extend to the front of the hotel. It is currently operated on a lease.
The hotel has 211 en suite bedrooms as well as conference space for more than 240 delegates, 5 meeting rooms, a bar and restaurant, leisure club (including a swimming pool and gymnasium) and underground car parking spaces for 110 vehicles.
The convenient location of this hotel with good access to central London in just 15 minutes provides an attractive alternative to the more expensive city centre establishments.
Craig Millward, Director at CBRE Hotels, EMEA commented on the opportunity: “The long term rental income of this investment will be an attractive proposition to many buyers along with the reversionary nature of the investment (the lease expires in approximately 19 years). The London market is witnessing volumes of transactional activity even in these challenging times and we therefore expect considerable interest in this asset”