ME Asset Management (ME.AM) has acquired the 132-key Premier Inn hotel on Swansea Waterfront, supported by a £9.6m senior loan facility from ASK Partners (ASK).
The hotel, which is operated under a long occupational lease to Whitbread with 10 years unexpired, occupies a prominent waterfront location and benefits from strong year-round demand driven by tourism and business travel.
ME.AM intends to undertake a façade restoration as part of a wider enhancement of the hotel.
Mike Ginsberg, investment manager at ASK, said: “This loan presented an attractive opportunity to finance a well-located, income-producing asset with a strong operator covenant. The long lease to Whitbread provides cashflow visibility, while Swansea’s ongoing regeneration creates compelling demand fundamentals for quality hospitality assets. We were pleased to support ME Swansea on a transaction that aligns closely with our lending strategy.”
Verender Badial, CEO of ME Asset Management, added: “This acquisition reflects our focus on high quality, income-producing assets in resilient regional markets. Swansea continues to attract significant inward investment, and the Premier Inn is exceptionally well located. ASK has been an excellent funding partner, and their understanding of value-add and operational real estate enabled us to execute this transaction efficiently.”
