Hilton Maidstone Sold By Freelance Properties off a Guide Price of £12.5m
Main Photo: The Hilton Maidstone
Date: June 2021
Location: Close to Maidstone Town Centre, Kent, England, UK
Name: The Hilton Maidstone
No. of Keys: 146
Seller: Freelance Properties...of which we can find little.
Buyer: The property has been sold to an established UK Hotel and Leisure operator with a strong presence in the South East. The purchase of Hilton Maidstone adds to its current portfolio comprising premium hotel, golf and leisure facilities in the region.
The purpose-built hotel consists of 146 en-suite bedrooms, eight meeting rooms with space to hold up to 150 delegates, parking space for 300 vehicles and a health club that includes a swimming pool, sauna and spa. The hotel is set in 6.2 acres of grounds.
Situated near Maidstone town centre, the hotel is located close to the M20 motorway and less than two miles from Maidstone Barracks train station. With a growing population of approximately 332,000, the town is home to a number of attractions including Leeds Castle, Mote Park and the Kent Life Heritage Park.
Currently leased to the Hilton Group PLC, with the lease agreement expiring in December this year, the hotel offers an opportunity for the new owner to take the hotel free from branding and operate it with their preferred operational structure and branding.
Henry Jackson, Head of Hotel Agency at Knight Frank said: “We are delighted to announce the sale of the Hilton Maidstone on behalf of Freelance Properties Ltd. This asset has considerable upside and the purchaser has some exciting plans ahead. Despite the Government extending the current restrictions, the regional hotel market is showing considerable resilience and transactional volumes are increasing. Capital investing into the sector remains diverse and the prices being achieved are not reflecting the discounts which were previously anticipated.”
Dentons has advised Freelance Properties Ltd on the sale of its long leasehold interest in the hotel. Simon Masri, Real Estate Partner at Dentons, said, “We are pleased to have advised Freelance on this sale which is another sign of the emerging recovery of the hotel sector”
Price: £12.5m or thereabouts
Price per Key: £85,616
THPT Comment: Interesting price…little known about the seller or the buyer?
First Seen: Knight Frank press release
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