Additional Shearings Hotels - July 2008
MREF II acquired three hotels to add to the Shearings Portfolio:
- The St George, Harrogate
- The George, Chollerford
- The Eden Arms, Rushyford
These were formerly operated by the Swallow Group and on acquisition were let to Shearings on long leases.
Each hotel was acquired with adjoining land or ancillary buildings. These opportunities have been progressed, disposals achieved and planning obtained for further development. All of the hotels have been refurbished and upgraded (see Shearings summary in MREF Investments).