How much is a Premier Inn worth?

19 Jul

A correspondent raises the question about whether selling Elizabeth Hall to Premier Inns for £1.24 million, plus S.106 of £202,000m (total £1,442,000.00) is value for money for East Devon council tax payers.

Two sources on the internet reveal some figures that might be useful:

Here  it states that in 2011  Whitbread sold seven Premier Inn sites to real-estate investment firm LaSalle Investment Management for £53.8m in a sale and leaseback deal.  The article goes on to say that the hotels are in Harlow, Norwich, Chippenham, Hereford and Weston-super-Mare.

A further article in December 2012 HERE statesthat Whitbread said it has exchanged agreements with NFU Mutual and Standard Life Assurance for the sale and leaseback of seven properties operating as Premier Inns and joint site restaurants for £51.04m in cash.

Of course, the amounts have to take in not only cost of sites but build costs, etc.

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One Response to “How much is a Premier Inn worth?”

  1. Tim July 19, 2013 at 8:32 pm #

    What a coincidence! EDDC picked Jones Lang La Salle to run the competition to find a purchaser for the site – but fear not, we had Cllr Diviani’s personal assurance, once the public learned of a potential conflict of interest, with them also being close to Whitebread/Premier Inns, that it was all ok.

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