Aprirose, the UK-based real estate investment company, has purchased the Hilton Hotel in Reading, for £27.75 million, from one of the UK’s leading property investors M&G Real Estate.
The modern purpose built Hilton Hotel comprises 210 spacious guestrooms, eight meeting rooms and a ballroom and conference area which can host up to 500 people. The Hilton, which has 65 parking spaces, also has two restaurants and a 24-hour gym and spa.
Gary Jones, COO at Aprirose, said: “Reading is the principal commercial centre of the Thames Valley and is home to some of the biggest names in business, making it a great location for such a well-known and respected hotel brand. With Reading’s excellent connectivity, combined with the soon to arrive Crossrail which will further increase the fast and easy access to London, the Hilton Hotel was a very attractive asset.
“Hotel rooms are in short supply in Reading and the demand is high owing to the strong transport links and the thriving town attracting businesses and tourists alike. It is a prime destination with a sustained need for quality hotel stock. We are always looking for the best investment cases to add to our growing real estate portfolio, and this Hilton Hotel ticks all the boxes.”
The hotel is located in the heart of the Thames Valley, 10 minutes to the south of Reading’s town centre, adjacent to Green Park and close to Reading International Business Park, Thames Valley Business Park, Winnersh Triangle Business Park and Heathrow airport. Reading is strategically located for access to London and the key hubs of south east England.
The purchase of the Hilton Hotel comes after a spate of recent acquisitions including the 73 asset M&B Pub portfolio, and the QHotels portfolio for £525 million.
Aprirose’s was advised by West Ridge Asset Management and M&G Real Estate was advised by JLL.