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News Release

London

JLL advises BDL Select Hotels on the sale of The Bedford Swan Hotel


JLL has advised BDL Select Hotels on the sale of The Bedford Swan Hotel for an undisclosed sum. The asset had an initial guide price of £11.5 million for the freehold interest. The hotel was purchased by Distinct Group, an experienced hospitality group.

The disposal of The Bedford Swan Hotel is the fourth asset in BDL Select Hotels portfolio sold by JLL. The remaining two hotels in the portfolio are currently under offer and further announcements are expected imminently."

The hotel was sold free of management and branding, which presented an opportunity for the incoming investor to reposition the asset.

Gareth Leakey, Group Manager of Distinct Group, advised: "The strategy for the group now is to grow the hotel estate further following the sale of our pubs in December last year. We are eager to start a complete refurbishment of The Bedford Swan Hotel, which will include a food & beverage offer, meeting and event spaces, bedrooms and upgrade of the spa facilities."

Gavin Wright, Director Hotel & Hospitality at JLL, added: "This was an excellent opportunity to acquire a prime town centre hotel. Combined with established leisure, conference, wedding and banqueting business, it has proven to be attractive to investors. The interest received is reflective of the continued demand from both domestic and overseas buyers seeking good quality regional hotels."

UK law firm Shepherd and Wedderburn acted as legal advisers on the sale for BDL Select Hotels.