The investment
In 2023 we introduced family office and private investors to Seneca Property on its £7m purchase of the Premier Inn in Preston. A branded hotel let to a strong operator offered secure income in a regional city at a price that left room for growth.
The exit
Seneca sold the hotel to Epsicap REIM for £9.75m, £2.75m above the purchase price. Investors received their income through the hold and their share of the gain on sale.
What it shows
Regional hotels and offices are often priced for the risk that buyers fear rather than the income they produce. Where the tenant is strong and the building is right, buying well at the start is what creates the exit.
It was the first exit from the Seneca series, which has since added offices in Maidenhead, Guildford, Bristol and Woking.
Past performance is not a guide to future returns.
To hear about future co investments, call James Innes on 020 7850 4760 or email james.innes@chrystalcapital.com.