CBRE Limited, as independent external valuer, has valued the property at GBP19.5 million on the basis of market value as at the valuation date of Sept 30, which is in line with the purchase price. The valuation includes the hotel and retail component at GBP15.5 million and GBP4.0 million, respectively.
CDL Hospitality Trust (CDLHT) has entered into an asset and business purchase agreement with Hotel Exe Limited, Plaza Properties (Holdings) and Plaza Retail (Holdings), to acquire Hotel Indigo Exeter and two retail units, according to an Oct 15 release.
Under the agreement, the proposed acquisition, which has a purchase consideration of GBP19.4 million ($33.2 million), is expected to be fully funded through debt.
