This acquisition marks an important step in the SCPI’s diversification strategy and constitutes its first hotel asset.

Located in Inverness city centre, the 54 rooms hotel was completely refurbished in 2017. It is fully let to Travelodge Hotels Ltd, the second largest budget hotel brand in the UK, under a lease with a remaining unexpired term of 20 years at acquisition.

Florian Le Quéré, investment director and partner at Epsicap REIM, said: “This first hotel acquisition for Epsicap Nano perfectly reflects our strategy for this kind of asset: economic segment, international brand, and market with strong fundamentals (high occupancy rates and ADR).

“We are therefore delighted with this acquisition, which strengthens the fund’s diversification both in terms of asset typology and geographic footprint.”

Epsicap REIM was advised by Welbeck (Rod Leslie) as agent, DWF (Gary Georgeson and Robin Watt) as legal counsel, and Jones Hargreaves (Peter Hargreaves and Daniel Little) for the technical audit. The vendor was Maven Capital Partners.