LondonMetric acquires nine Premier Inn hotels for £89m
🏨 LondonMetric acquired nine Premier Inn hotels for £89 million. The deal includes 955 bedrooms, delivering a net initial yield of 5.3% with 30-year leases, generating £5 million annual rent. Rent reviews occur every five years, linked to the consumer price index. The hotels are located in the South East, including Southampton Airport and Milton Keynes. Whitbread, as the seller, contributes £11.3 million annually, 2.7% of LondonMetric’s total rent. LondonMetric now owns 22 Premier Inns.
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