Shearings - March 2006
Acquisition and leaseback of 39 Shearings Hotels (with 7 additional hotels subsequently acquired) located throughout the UK, predominantly in coastal locations.
Shearings is owned by 3i and its Management team and is the UK’s leading coach holiday operator that targets the over-55s market, a large and robust sub-sector of the UK holiday market with attractive demographics. Since the acquisition of this portfolio, Shearings has increasingly been targeting the self-drive market with its new “Coast and Country” brand.
Key Facts:
- 25 year leases with annual RPI linked up-lifts
- Significant excess land and development opportunities within portfolio
- 39 hotels initially purchased - with 7 additional hotels acquired – 4 under MREF and 3 under MREF II