Thu, 27 Oct 2016 | COMMERCIAL PROPERTY
One of Cardiff’s most popular hotels has been purchased in a £24 million off-market deal in a sign of regeneration in the city.
The four-star Clayton Hotel, close to Cardiff’s train station and the Millennium Stadium, has been bought from a private seller by Dalata Hotels, the largest hotel operator in Ireland and the current occupiers of the Clayton.
The hotel, formerly known as the Maldron Hotel, has 216 bedrooms, seven modern conference rooms and two bars and restaurants. The hotel is centrally located, with retail and leisure offerings all close by.
Real estate firm Savills, which managed the deal, said Cardiff was experiencing an “influx” of technology and media companies who are moving to the city in advance of BBC Wales moving its headquarters from Llandaff to Cardiff in 2018.
There are also significant infrastructure projects in the pipeline including the M4 relief road, the Brynglas Tunnels and the South Wales Metro, Savills said.
Richard Dawes, associate director in the hotels team at Savills, said: "We are pleased to have advised Dalata Hotels on their acquisition of the strategically located Clayton Hotel. Cardiff is undergoing significant regeneration and Dalata Hotel’s purchase of the hotel reflects their confidence in both the UK and local operational markets.”
Dermot Crowley, deputy chief executive officer for business development and finance at Dalata Hotels, said: “Clayton Hotel Cardiff has performed very strongly this year. We are delighted to be able to purchase the freehold interest of the hotel. This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews.”
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