28-30 Apr 2024
Radisson Blu Hotel,
Glasgow,
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08-08 May 2024
Hotel Melià ,
Milano ,
Italy
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10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
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13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
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14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
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18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
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Leicester Square’s Vue Cinema sold for £23.46m |
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By Aoife Dowling 15 Jul 2013 |
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Cordea Savills, the international property investment manager, has purchased the Vue Cinema in London’s Leicester Square for £23.46m on behalf of a UK pension fund client.
The nine-screen cinema, seating 2,500 people, lies in the heart of London’s West End. It was rebuilt behind the Art Deco façade in 1993 and is the only remaining multiplex on Leicester Square.
The asset is the first to be purchased as part of a new mandate of £100m to be invested in properties with Retail Prices Index (RPI) or fixed rental increases. The property comprises a 22 year leasehold interest from freeholders Gascoyne Estates and is being acquired at an initial yield of over 8.25 per cent with fixed annual rental increases of 2 per cent. Lucy Winterburn, director of Investment, said: “The robust fundamentals of the location and covenant plus the attractive leasing structure should make this asset a strong performer relative to our client’s performance objective.” Cordea Savills was advised by Cortex Partners, with Fineman Ross acting on behalf of the vendor, Helix Property Advisors.
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News |
1 to 12 of 8705 news stories |
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27 Apr 2024
The Bannatyne Group says it has officially bounced back from the pandemic, with both turnover and profits restored to pre-2020 levels in 2023, according to its year-end results. Owned by former BBC Dragon’s Den investor, ... More
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25 Apr 2024
Kerzner International has signed deals to operate two new Siro recovery hotels in Mexico and Saudi Arabia, following the launch of the inaugural Siro property in Dubai this February. Designed to offer guests a holistic ... More
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24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
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24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
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24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
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23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
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23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
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22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
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18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
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19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
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17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
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16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
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Cariitti Oy |
Cariitti is a Finnish family business founded by Kari Ruokonen in 1998 that offers versatile
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