Aprirose sells Exeter Premier Inn

Aprirose has sold the Premier Inn hotel in central Exeter to LaSalle Investment Management for £11.7m.

The Premier Inn is a new-build development comprising 120 bedrooms, with two ground floor retail and business units, above a subterranean gym and car park.

The sale of the hotel in central Exeter follows Aprirose’s sale of a portfolio of six quality pubs to LaSalle Investment Management in July.

Manish Gudka, chief executive officer at Aprirose, said: “In recent years the Exeter hotel market has strengthened, making the Premier Inn an attractive investment. We have conducted a number of transactions since Brexit and will continue to look for strong opportunities across a variety of asset classes to add to our diverse £1bn property portfolio.

“We continue to identify the most attractive assets for our investors and can act quickly and nimbly when the right business case presents itself.”

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