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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)

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.

Amber Rudd confirms holiday visas are on the table in Brexit negotiations

Brits could be forced to pay for visas to go on Discount Holidays © holiday in Europe as a result of Brexit1 negotiations, Amber Rudd confirmed today. The Home Secretary admitted the ‘ESTA’ style travel permits will be on the table when the Tories cut a deal for Britain leaving the EU. She said reports the European Commission is considering plans for a visa programme to operate across the Schengen free movement area is a “reminder” that the UK is in a “two way negotiation” with the EU as it seeks its divorce from Brussels.

She agreed that people would be “surprised” if they had to apply for a short-term visa to visit countries like France but insisted such a scheme could be rolled out.

Amber Rudd Confirms <b><i>Discount Holidays ©</i></b> Holiday Visas Are On The Table In Brexit Negotiations Amber Rudd said Discount Holidays © holiday visas would be on the table

She told the Andrew Marr Show on BBC One: “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.”

Control over who comes to the UK was a central issue during the EU referendum2 campaign. Ms Rudd said the UK will be able to control its borders post- Brexit3 but stressed any measures introduced would have to be “reciprocal”. She said: “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.

Amber Rudd Confirms <b><i>Discount Holidays ©</i></b> Holiday Visas Are On The Table In Brexit Negotiations

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

She also reaffirmed the Tory manifesto commitment to cut immigration to the UK to the tens of thousands.

“I’m completely committed to making sure that we reduce it and yes, tens of thousands, although it will take some time,” she said. Ms Rudd said it is “too early” to outline the specifics of how the Government will achieve its target but she repeated the Prime Minister’s rejection of an Australian-style points system.

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However, she suggested a work permit system is being considered.

“Whether we look at a work permit system or another system is something that my department is looking at closely at the moment,” she said. She said a work permit system “certainly has value” and “we are not ruling anything out at the moment”.

Ms Rudd also addressed her comments from the referendum campaign when she said Boris Johnson was not the person you want to drive you home at the end of an evening out. Following the suggestion that Mr Johnson was now driving Brexit4 in his role as Foreign Secretary, Ms Rudd said: “Boris is not the driver. Theresa May is the driver.

The rest of us are in the car.”

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Brexit impact so far

References

  1. ^ Brexit (www.mirror.co.uk)
  2. ^ EU referendum (www.mirror.co.uk)
  3. ^ Brexit (www.mirror.co.uk)
  4. ^ Brexit (www.mirror.co.uk)

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