Hilton hotel at Custom House sold to Henderson Park real estate manager

UK real estate investor Henderson Park has acquired the Hilton Garden Inn at Custom House Quay, as part of a broader acquisition of 12 Hilton branded hotels across the United Kingdom and Ireland. Financial terms of the deal were not disclosed.

The acquisition involves Henderson Park acquiring 12 predominantly freehold Hilton properties in cities including London, Edinburgh and Glasgow.

The 2,424 key portfolio is a collection of well-positioned, full-service Hilton branded hotels with a wide range of amenities, encompassing three of the company’s most recognised brands: Hilton Hotels & Resorts; Hilton Garden Inn; and DoubleTree by Hilton.

Nick Weber, founding partner of Henderson Park, said: "This transaction presents us with a rare opportunity to acquire a large, high-quality portfolio of assets, timed to capitalise on the potential for a near-term return to travel as well as a wider post-pandemic recovery over the years to come."

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Opportunities

Henderson Park said the deal offers opportunities for additional value creation across the portfolio, through extensions, room renovations, redevelopment of ground floor space to attract external footfall, and alternative use exploration. The investor said it is in advanced discussions with the existing manager, Amaris Hospitality, for the ongoing management of the hotels.

Finance for the transaction was provided by Apollo, and the deal is expected to close later this year.

Henderson Park has substantial assets in Ireland, having acquired Green Real Estate Investment Trust, and its prime portfolio of office and logistics assets, for €1.34 billion in 2019.