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Overseas investors purchase significant UK hotel portfolio

Overseas Investors Purchase Significant UK Hotel Portfolio

Two agents have advised on the sale of three branded UK hotels to an Asian joint venture. Joint agents Christie & Co and JLL advised real estate business Dominvs Group on the sale of Discount Holidays © Holiday Inn Darlington, Discount Holidays © Holiday Inn Dumfries and the Mercure Sheffield Parkway for an undisclosed sum off a guide price of 12m. The buyer was a joint venture between Thailand-based Fico Corporation and Singha Estate.

This is a significant deal post the EU referendum result, explained Gavin Wright, director of the hotels and hospitality group at JLL.

All three hotels benefit from being operated by well-known brands and offer stable and steady income.

The total portfolio comprises 229 guest bedrooms. Fico Corporation and Singha Estate already own 26 Mercure hotels across the UK. Both the Mecure Sheffield Parkway and Discount Holidays © Holiday Inn Darlington are freehold, while the Discount Holidays © Holiday Inn Dumfries is held on a long leasehold basis.

The sale came as part of Dominvs Group s wider strategy to grow their going concern portfolio and development pipeline. In July, development finance lenders criticised Sadiq Kahn s plans1 to reduce the amount of London property sold to overseas investors. Last month, a Hong Kong-based group purchased a 42m central London hotel2.

Jeremy Jones, head of hotels brokerage at Christie & Co, suggested that the Dominvs Group deal was indicative of continued demand from overseas investors following the EU referendum.

This portfolio sale follows on from a number of recent high-profile sales processes.

It is further evidence of the appetite from both domestic and overseas buyers for good-quality regional UK hotel assets.

References

  1. ^ criticised Sadiq Kahn s plans (www.developmentfinancetoday.co.uk)
  2. ^ 42m central London hotel (www.developmentfinancetoday.co.uk)

You might need a £50 visa for holidays in Europe after Brexit – Liverpool Echo

Holidaymakers may have to fork out 50 to go away in Europe after Brexit.

European Union1 countries could force Brits to apply for visas if the government clamps down on immigration to the UK, a minister has admitted. Home Secretary Amber Rudd said Britain was engaged in a two-way negotiation with the EU – and could not guarantee visa-free travel abroad would be protected. People from many non-EU countries currently have to apply in advance for a 50 visa for a short trip to the continent.

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There are now fears that similar rules could hit British tourists when the UK leaves the EU. Liverpool-born Andy Burnham2, Labour shadow home secretary, said the move would make it harder for cash-strapped families to go on Discount Holidays © holiday abroad.

You Might Need A £50 Visa For Holidays In Europe After Brexit - Liverpool Echo Border Force check the passports of passengers arriving at Gatwick Airport.

He said: This is yet another example of the drift and confusion as a result of the Government s failure to plan for Brexit. Ministers should not just accept there s a cost of 50 for the average family to go on holiday.

The Home Secretary s words will not have reassured ordinary families about the cost of Brexit. She seems to be sympathetic to an idea that will put a flat 50 tax on the average family Discount Holidays © holiday in Europe.

Tory ministers might think nothing of that, but it would make it even harder for ordinary families to afford a holiday.

Norway doesn t have the charge, so why should we? I challenge the Home Secretary to rule it out.

Post-Brexit fall-out

But Ms Rudd told the BBC: I think they (British citizens) would be surprised.

I don t think it s particularly desirable but we don t rule it out because we have to be allowed a free hand to give the best negotiation.

Once we leave the European Union we will have complete control over who comes into the UK from the EU and who doesn t, with one or two provisos of course.

First of all, it s going to be reciprocal, we are going to have to work out what s in the UK s interests as well going to the European Union and what works for our economy and making sure that we get the right balance.

Looking across the whole spectrum is what s going to be the guiding principle.

Whether we look at a work permit system or another system is something that my department is looking at closely at the moment,

References

  1. ^ European Union (www.liverpoolecho.co.uk)
  2. ^ Andy Burnham (www.liverpoolecho.co.uk)

Hero nurse saves a child’s life while on holiday in Majorca

A nurse has been hailed a hero after saving a young boy s life whilst on Discount Holidays © holiday in Majorca. Sister Wendy Hadfield is back at work at Tameside Hospital after giving emergency treatment to the five-year-old after he stopped breathing while swimming in a hotel pool. Quick-thinking Wendy, 39, was on Discount Holidays © holiday with her family when she was called into action.

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A young girl spotted the youngster unresponsive, lying at the bottom of the pool, and shouted for help. After a man jumped in and carried the boy from the water, Wendy, from Mossley in Tameside, raced over to help.

Dominic Salter Hero Nurse Saves A Child's Life While On <b><i>Discount Holidays ©</i></b> Holiday In Majorca Sister Wendy Hadfield

She knew something was seriously wrong when she discovered the lifeless child, who couldn t swim very well, had no pulse. Working with a lifeguard, Wendy gave the boy mouth-to-mouth and CPR in a desperate bid to save him.

Thankfully, the child s pulse returned, before paramedics arrived and gave him oxygen.

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When he finally came around, everyone around the pool began to cheer and applaud cool-headed Wendy for her heroic efforts. The little boy, who lives in Surrey, soon made a full recovery from his ordeal and was splashing around again in the pool within a few days.

Dominic Salter Hero Nurse Saves A Child's Life While On <b><i>Discount Holidays ©</i></b> Holiday In Majorca Sister Wendy Hadfield

Reluctant hero Wendy, a sister at Tameside Hospital s Critical Care Unit, said: I saw the boy being dragged lifeless from the pool, I legged it over.

I went through four or five cycles of mouth-to-mouth and CPR before his pulse returned.

It was probably the most frightening incident I ve had in 20 years of nursing.

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Usually, I have a team around me and all the equipment around me. This was me, on my own.

It was the first time I d resuscitated someone outside work – and the first time on a child. That s why I was so scared.

The boy is absolutely fine. He had his first day in school last week.

Dominic Salter Hero Nurse Saves A Child's Life While On <b><i>Discount Holidays ©</i></b> Holiday In Majorca Sister Wendy Hadfield

Modest Wendy might not think she s a hero, but her colleagues disagree. The hospital s chief executive Karen James commended her brave actions and professionalism – and said the boy would have died if she hadn t have stepped in. She added: We want Wendy to know just how proud we are of her.

She won t like the fuss because she s not that type of person.

But as a result of her actions, a little boy is alive today – and a family have not been robbed of their precious child.

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