Back

Back

Hotel

Tours

It was an unexpected, but decisive, meeting on the Eurostar between an operator and Xavier ALVAREZ that led to the Hampton by Hilton project: two hotels now under construction on an iconic site in the city of Tours.

Location
Tours / 37
Total area
6 692 m²
Product(s)
Hotel
Unit
171
Rental income
1 500 000€ / 224€ / m²
Market value
25 000 000€ / 3 736€ / m²
Investment horizon
10 years
Acquisition date
dec-18
Project delivery
mar-21
Fixed lease duration
12 years

In life, there are some trains that you just shouldn’t miss. When our teams boarded a Eurostar service in March 2017, none of them suspected for a moment that an uneventful journey beneath the English Channel would turn into an unmissable opportunity. But among the other passengers was an operator grappling with the challenge posed by the withdrawal of his investor in a project to build two future 180-room hotels overlooking the iconic Pont Wilson bridge in the city of Tours. One visit was enough to convince us that we should invest in this exceptional site. Despite reaching agreement quickly, we still had to solve one particular problem before we could officially finalise our purchase of the two future hotels: a legal appeal against the project. Ultimately, the insurer we found to cover the risk of losing the case was not required, because the final adjudication gave permission for construction work to begin. In addition to the leases signed with the operator as security for our investment, we also acquired 12 retail units on the ground floor of the buildings, which are perfectly located on the city’s main arterial road.