Aprirose agrees ground rent acquisition on trio of hotels
Aprirose, the real estate investment company, has completed the purchase of the ground rents of three hotels in the UK which are part of the QHotels portfolio.
The company has acquired the ground rents of Oulton Hall in Leeds, Slaley Hall in Northumberland and Crewe Hall in Cheshire from Lloyds Pension Fund.
The QHotels portfolio, which comprises 20 branded and individual hotel and leisure resorts in prime city centre and countryside locations across the UK, is owned by a joint venture partnership between Aprirose and Cindat Capital Management, the Beijing-based international private equity firm.
We are pleased to have acquired the ground rents to these three hotels. The location and quality of these assets provide us with confidence in their long-term income generating capabilities and value.
The hotel and leisure sector remains an important focus for our business, and we are actively pursuing a number of similar opportunities. As a well-established asset class, we believe ground rents provide an attractive and robust revenue stream. Manish Gudka, CEO, Aprirose