London,
27
June
2018
|
10:24
Europe/London

EVANS RANDALL BRINGS CROYDON PARK HOTEL TO MARKET

Evans Randall is seeking offers in excess of £25.0 million for the prime Croydon Park Hotel, reflecting an attractive NIY of 6.5%.

This full-service four-star freehold hotel, which is situated in the heart of Croydon’s commercial district, offers an exciting opportunity for an investor to benefit from the long-term income stream, whilst taking advantage of the c.£5.25 billion of investment in the area, which will solidify Croydon’s place as London’s ‘third city’.

Moreover, long term asset management initiatives exist, including; exciting hotel branding potential, extension of the hotel to realise the full potential of the 1.54 acre site, or securing a future change of use to residential and significantly increasing the massing (subject to obtaining planning and all other consents).

CBRE represents Evans Randall.

Kent Gardner, Chief Executive of Evans Randall Investors, said:

“Given the uplift in Croydon’s fortunes, including substantial investment in infrastructural and place making improvements, this well-performing asset is well placed for its next phase of life and offers a range of options for the incoming investor.”

 

David Fraser, Senior Director, London Investment, CBRE
Croydon provides an interesting and dynamic alternative to Central London and is now piquing the interest of a global audience thanks to the scale and quality of its regeneration. The investment prospect of Croydon is now such that its opportunities appeal to a wide variety of investors and we expect significant interest.
David Fraser, Senior Director, London Investment, CBRE