Dalata Hotel Group has announced that it has agreed the deal with Deka Immobilien for the sale and leaseback of the Hotel La Tour in Birmingham for £30 million (€33.2 million).
Late last month, Dalata announced it had acquired the entire issued share capital of Hotel La Tour Birmingham for £31m (€34.9 million).
Dalata will now operate the hotel on a new lease for a 35 year term. The agreed initial rent for the property is £1.6 million per annum and will be subject to five yearly rent reviews.
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Hotel La Tour is a four star hotel, located within walking distance of Birmingham New Street Station in the centre of the city. Newly built in 2012, the hotel has 174 bedrooms, a restaurant and bar, as well as extensive conference and meeting facilities. The hotel will be rebranded as a Clayton hotel in the final quarter of this year.