Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Pandox AB on its acquisition of The Queens Hotel in central Leeds, UK.
The acquisition includes the 232-room hotel property and the hotel operations, which will be operated as an independent brand under a new management agreement with Axiom Hospitality.
The total acquisition price amounts to approx. £53m with an expected stabilised yield of more than 9 per cent. The acquisition will initially be financed by existing liquid funds and credit facilities.
In recent years, The Queens Hotel has undergone a substantial renovation and upgrade of all rooms, public areas, restaurant and bar, and the hotel is in a strong position in its market.
The Freshfields team advising Pandox AB is led by real estate partner Victoria Hills, and associate Emilia Farley.
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