UK: Resort and leisure membership operator Village Accommodations has bought the previous Crowne Plaza web site at Caversham Bridge, Studying.
The property, acquired from Brightbay Actual Property Companions, an affiliate of Starwood Capital Group, will bear a multimillion-pound renovation in step with the Village model.
It varieties a part of a wider funding programme launched in September which can see Village improve greater than 50 per cent of its portfolio, together with bed room and facility extensions, refurbishments to current bedrooms, and upgraded leisure and health choices.
Electrical car charging factors can even be put in throughout Village’s 33 UK areas. With the addition of Caversham Bridge, it takes the portfolio to 34 websites.
Gary Davis, CEO of Village Accommodations, mentioned: “We’re delighted to take possession of our new web site in Studying. Constructing on our profitable conversion in Bracknell, the acquisition is one other instance of serious funding within the space and creates a chance to carry our distinctive and differentiated proposition to company and native audiences alike.”
World actual property advisor CBRE suggested on the sale of the Crowne Plaza Studying.
Village Accommodations provides a number of facilities and services underneath one roof, together with bedrooms, a Pub & Grill, conferences and occasions house, a Starbucks espresso store, and well being and wellness areas.
