JLL advise on the sale of Hampton by Hilton Birmingham Jewellery Quarter
JLL has advised Birmingham Regeneration LP on the sale of the 109-bedroom, Hampton by Hilton Birmingham Jewellery Quarter to an affiliate of Atlas Hotels Limited.
The freehold property was sold for an undisclosed sum.
The hotel benefits from 109 bedrooms, a stylish bar/dining area, on-site fitness centre, and modern meeting facilities. The Hampton by Hilton Birmingham Jewellery Quarter was a former textile factory part converted into a hotel in 2013. The hotel will continue to operate with Hilton Hotels & Resorts under the Hampton by Hilton brand.
Located less than 10 minutes’ walk from Birmingham City Centre, the Jewellery Quarter is home to over 700 jewellers and independent retailers with a lively food and drink scene. It is easily accessible to attractions such as Bullring Shopping Centre, The International Convention Centre and Utilita Arena.
Gavin Wright, senior director, Hotels & Hospitality at JLL, commented: "The completion of the sale follows a competitive marketing process with multiple offers received. This is a strategic acquisition by a Buyer who has a strong appetite to grow its existing portfolio. The forthcoming Birmingham Commonwealth Games in 2022 and an expected global audience of over 1.5 billion will be instrumental in promoting the city and ensuring continued demand for hotel accommodation.”
Sean Lowe, CEO, Atlas Hotels Limited commented: “Our increased commitment to the UK Select Service market reflects our belief in its recovery. This is confirmed by the strong return to trading seen in the existing portfolio which has been able to support key workers and the wider business community as well as the UK leisure market as restrictions ease.”
DLA Piper acted for Birmingham Regeneration LP and Burges Salmon for Atlas Hotels Limited.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.