Brief: Pandox Acquires UK Hotel For GBP 53 Mln

Pandox AB

17/02/2023 08:41

Feb 17 (Reuters) - Pandox AB (publ)  PANDXb.ST :
    * SAID ON THURSDAY ACQUIRES HOTEL IN UK FOR GBP 53 MLN
    * GAINED ACCESS TO THE QUEENS HOTEL IN CENTRAL LEEDS
    * SELLER IS APRIROSE LTD
    * ACQUISITION INCLUDES HOTEL PROPERTY, OPERATIONS
    * WILL BE OPERATED AS INDEPENDENT BRAND UNDER NEW MANAGEMENT
AGREEMENT WITH AXIOM HOSPITALITY
    * EXPECTS STABILISED YIELD OF MORE THAN 9%
    * ACQUISITION WILL INITIALLY BE FINANCED BY EXISTING LIQUID
FUNDS,
CREDIT FACILITIES

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr8h4mNZ
 Further company coverage:  PANDXb.ST  
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