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News Release

London

JLL’s Hotels & Hospitality Group sell DoubleTree by Hilton Dundee to overseas investor


​LONDON 3 April 2017 - JLL’s Hotels & Hospitality Group has sold the DoubleTree by Hilton Hotel, Dundee to 7 Hospitality off a guide price of £5.5m.

The hotel is one of three JLL has been marketing as part of the BDL Select Portfolio. The other two being marketed are the Best Western Grosvenor Hotel in Stratford Upon Avon and the Best Western Marks Tey in Colchester, sales of which are scheduled to be announced over the coming weeks.

The 95 bedroom Doubletree by Hilton Hotel is situated in Dundee and has recently been refurbished and offers development potential to add additional bedrooms and meeting and events space. The Dundee hotel market has witnessed strong growth in recent years as regeneration of the city centre has improved the attractiveness of the city centre to both leisure and corporate travellers alike.

Kerr Young, Director in JLL’s Hotels & Hospitality team, commented: “The extensive interest we had in this asset demonstrates the buoyancy of the Scottish hotel market. We are delighted to have leveraged our international network to secure a first time buyer from Singapore. We expect the Dundee Hotel market to go from strength to strength in the coming years as significant infrastructure projects are completed and we wish 7 Hospitality continued success with their purchase of the DoubleTree by Hilton.”

Mohan Mulani, Managing Director of 7 Hospitality (UK) Limited commented: “We are delighted to have acquired our first hotel asset in the UK. We have full confidence in Scotland as an excellent tourist and business destination and will be actively looking for further investment opportunities in the near future."

7 Hospitality (UK) Limited was represented by Brodies LLP and French Duncan.