Prupim beds with Premier Inn for Stansted scheme

摘要

Prupim has agreed to forward-fund the £27m development of a Premier Inn hotel at London Stansted airport. The 300-bed hotel is part of a joint venture between Surinder Arora's Arora Hotels and Whitbread's Premier Inn to build four hotels at Gatwick, Heathrow and Stansted. The deal comes after Property Week revealed in January that Prupim had agreed to forward-fund the £80m, 630-bed hotel at Gatwick airport. The purchase was made on behalf of its secured property income fund. Once completed, the Gatwick hotel will have direct access to the airport terminal, making it the first terminal-based budget hotel and the largest Premier Inn in the UK. Arora and Premier Inn also completed a £38m forward-funding with Aviva of a 400-bed Premier Inn near Heathrow Terminal 5 in December. The joint venture is still seeking a funding partner for a 240-bed hotel at Heathrow Terminal 4.