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Freshfields advises Pandox AB on UK acquisition of The Queens Hotel

Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Pandox AB on its acquisition of The Queens Hotel in central Leeds, UK.

The acquisition includes the 232-room hotel property and the hotel operations, which will be operated as an independent brand under a new management agreement with Axiom Hospitality.

The total acquisition price amounts to approx. £53m with an expected stabilised yield of more than 9 per cent. The acquisition will initially be financed by existing liquid funds and credit facilities.

In recent years, The Queens Hotel has undergone a substantial renovation and upgrade of all rooms, public areas, restaurant and bar, and the hotel is in a strong position in its market.

The Freshfields team advising Pandox AB is led by real estate partner Victoria Hills, and associate Emilia Farley.

Further information on the acquisition can be found here