Patrizia Hanover Property Unit Trust has sold a 152-bedroom hotel operated by Travelodge in Portsmouth city centre.
The building was acquired for £14m by one of the funds at Brydell Partners.
Travelodge has opened its third hotel in Portsmouth in 2021 after signing a 25-year lease at the recently refurbished building on Stanhope Road near Portsmouth & Southsea Station.
Other Travelodge hotels in the city sit on Copnor Road, comprising 33 bedrooms, and Kingston Crescent, featuring 108 bedrooms.
Knight Frank advised Patrizia on the deal.
See occupational sale comparables in Portsmouth >>
Photo © Patrizia
Send feedback to Evelina Grecenko
Follow Estates Gazette
