Tue, 10 Jun 2025 | COMMERCIAL PROPERTY
A portfolio of regional hotels, which were marked for sale with a guide price of £14 million, has been acquired by Middlesex-based real estate investment and hotel management firm Estee Group.
The Project License portfolio, which is comprised of three regional hotels, located in Darlington, Sheffield and Dumfries, was sold to Estee Group by Savills UK on behalf of FS JV License Limited.
The hotels in the portfolio are two Holiday Inn locations in Darlington and Dumfries, as well as a Mercure in Sheffield Parkway. The three hotels provide a combined total of 227 bedrooms.
Following the acquisition, the hotels will join the Wembley-headquartered Estee Hotels portfolio, which includes Mercure locations in Thame, Oxfordshire, St Helens, Merseyside and Newbury West, Berkshire.
According to Savills, all three of the hotels in the Project License portfolio benefit from future upside potential, including redevelopment opportunities, close proximity to forthcoming demand drivers and regeneration schemes.
Steven Fyfe, director in the Hotel Capital Markets team at Savills Scotland, commented: “Project License provided an excellent opportunity to purchase three well-located hotels with strong brand identity and considerable future asset management potential. We are very pleased to have completed the deal, achieving a strong price on behalf of our client.”
Tom Cunningham, director in the Hotel Capital Markets team at Savills Manchester, added: “The sale of the portfolio enabled the purchaser to significantly enhance its representation within the hotel sector, whilst 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.”
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