UK: Global real estate advisor CBRE has been appointed by the Westgate Partnership to sell Oxford Castle Quarter for offers in excess of £30.94 million.
The Oxford Castle Quarter comprises a 95-bedroom hotel operated under the Malmaison brand, and 39,134 square feet of leisure units. The estate is fully let with a weighted average unexpired lease term (WAULT) of 14.8 years.
The site dates back to 1071 when it operated as a Royal Castle. After serving as a prison between 1785 and 1996, the property underwent a conversion and was first opened as a hotel and leisure complex in 2006. The development retains its architectural features.
Joe Hankin, senior director of capital markets at CBRE UK, said: “There are seldom opportunities to acquire assets as distinctive as Oxford Castle Quarter, which offers a long-let hotel and leisure investment opportunity located in Oxford’s city centre. This market is particularly strong and attracts significant investment from global capital, which will likely support diverse investor interest in Oxford Castle Quarter.”
Highlights:
- Oxford Castle Quarter has been brought to market by CBRE on behalf of the Westgate Partnership, with offers sought above £30.94 million.
- The property includes a 95-room Malmaison hotel and 39,134 sq ft of fully let leisure units, with a WAULT of 14.8 years.
- The site dates back to 1071, having served as a Royal Castle and later a prison before its conversion into a hotel and leisure complex in 2006.
- CBRE expects strong interest from global investors.