City centre's 140-room Premier Inn on the market for £8.7m

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Preston city centre's 140-room Premier Inn on the market for £8.7m

It is currently owned by Kames Capital, part of Aegon Asset Management. It is thought that the sale will not affect Premier Inn's operations. The hotel chain has a 25-year lease on the building which was signed in 2011.

The floor units of the building are occupied by German Doner Kebab, Kaspa’s Desserts and Hollywood Exports.The huge property is being marketed by CRBE. They claim that Premier Inn’s lease accounts for 91% of the property’s total income, while the other businesses make up the remaining 9%. CRBE states that its mission is to "realise the potential of our clients, professionals and partners by building the real estate solutions of the future. From instilling confidence in today’s decisions to re-imagining tomorrow’s spaces, we thrive in complex and ever-changing environments."

The building recently had work undertaken on its exterior cladding. Old panels were replaced and new fire-proof materials were added.

 

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