Hotel property company Pandox has agreed to acquire the 247-room Radisson Blu Glasgow, which is centrally located in the Scottish city.
The purchase price is around SEK 455 million and corresponds to a required yield of approximately 7 percent.
This is stated in a press release.
The deal is expected to be completed and occupancy is expected to occur before the end of the year. The hotel will be reported under Pandox's Operator Operations business segment.
On an annual basis, in 2018, the hotel is expected to contribute the equivalent of approximately SEK 150 million in revenue and the equivalent of approximately SEK 20 million in so-called cash earnings cash flow.
Business area manager at Pandox sells shares for just over SEK 600,000.
Source: di.se
