MCALEER & RUSHE SELL JURYS INN PORTFOLIO

To release capital for further development and investment, Irish developer McAleer & Rushe has sold a four-property portfolio of Jurys Inn hotels in four different UK cities to four separate buyers for a total of £80 million. LaSalle Investment Management acquired the 170-room Jurys Inn Exeter for £16.5 million (£97,000 per room); the long-leasehold of the 310-room Jurys Inn Liverpool was purchased by an institutional client of Sladen Capital Partners for £29.25 million (£94,350 per room); the Charities Property Fund bought the 213-room Jurys Inn Derby for £14.85 million (£69,700 per room); and the 264-room Jurys Inn Nottingham was picked up by a private investor for £20 million (£75,760 per room).

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