Croudace Properties own a 148 room hotel in Hounslow let to Accor Hotels and which trades under Accor’s ‘’Ibis Budget’’ brand. As this is a successful location for Accor’s Ibis Budget concept, and their lease had only a few years to expiry, we approached the tenant with a view to extending the lease. Accor were keen to discuss the options.
A new 20 year lease with Accor has now been completed with effect from January 2023. This provides stability and security to Accor and enhances our income flow and substantially improves investment value.