Apex Hotel, Charles Street, BathPosted on January 30, 2016
In January 2016 Clay Street followed the up previous acquisition of Apex Waterloo in Edinburgh, with the acquisition of Apex City of Bath Hotel.
Pension Fund clients of CBRE Global Investors acquired the new 4 star luxury hotel located in the heart of Bath City Centre. The hotel will be positioned on the Corner of Charles Street and James Street West and when open in early 2017, will feature 177 luxury bedrooms, a large conference centre facility for 400 delegates, swimming pool, gym and restaurants. The hotel will be within a short walking distance of Bath’s main tourists attractions the world famous Roman Baths only 400 metres from the hotel.
The lease is subject to annual RPI uplifts, subject to a collar and cap, at 0.00% and 5.00%.
The deal was acquired off market and completed at a price of £14.16m.