Properties

Hotel Indigo Exeter

3 Catherine Street, Exeter, EX1 1EU & Units 1 - 4 Colson's Parade, High Street, Exeter, EX4 3LN

  • Guest Room

    104
    Guest Rooms

  • Land Area

    ~1,250 sq m
    Land Area

The freehold property consists of an upscale lifestyle boutique hotel, Hotel Indigo Exeter, with 104 rooms and two tenanted retail units. The hotel underwent an extensive conversion from a House of Fraser department store and fully opened in October 2023, showcasing modern and contemporary design elements with high-quality finishes. It features three F&B outlets (a restaurant, sports bar and rooftop bar), a luxurious spa and sauna, gym and meeting room. The two retail units are currently tenanted out and the existing leases will continue until 2033 on a fixed rent basis with tenant break options in June 2028 and March 2029 respectively.

Becketts, Exeter's most exclusive rooftop destination, provides a refined setting away from the city's lively streets. This intimate venue offers a relaxing atmosphere, complemented by panoramic views of the city, with a viewing platform overlooking the Cathedral, making it an ideal spot to unwind with a drink.

Operating under the "Hotel Indigo" brand, part of the InterContinental Hotels Group, the hotel offers an unique experience combining local heritage with modern design, a reflection of the neighbourhood it calls home. From thoughtfully designed public spaces to stunning guest rooms, each moment offers a deeper connection to Exeter's rich history and vibrant culture.

Nestled in the heart of Exeter, the hotel is on the doorstep of the main retail high street and the Princesshay Shopping Centre, the city's premier shopping destination. The property is also close to the commercial district, major transport nodes and iconic attractions. The nearby University of Exeter will attract leisure travellers from visiting parents and guests during graduation months.

NOTABLE ACCOLADES

  • • Exeter Living Awards 2024 for Leisure & Tourism and New Business | Finalist
  • • Best of British Getaway Awards 2023 | Best Luxury Spa in Devon

 

Property Details [  –  ]
Number of guest rooms 104
Number of F&B outlets Three outlets comprising Colson's Bar & Grill, Dugout Bar and Becketts (rooftop bar)
Banquet/Conference/Meeting facilities One meeting room (accommodates up to 12 people)
Other facilities Fitness suite, and luxury spa featuring two Hydropool hot tubs, sauna and steam room
Two retail units
Land area ~1,250 sq m
Title Freehold
Purchase price at 6 November 2024  £19.4 million(1)
Valuation(2) as at 31 December 2024 £19.5 million 
Green Rating/Certification EPC "B" Rating
Hotel Management Agreement Details [  –  ]
Operator Michels & Taylor
Term of hotel management agreement 6 November 2024 to 31 December 2034
FY 2024 Key Financials [  –  ]
Note: Acquisition was only completed on 6 November 2024
Gross Hotel Revenue S$1.4 million(3)
(£0.8 million)
Net property income S$0.3 million(3)
(£0.2 million)
  • (1)The purchase price of £19.4 million refers to the price of the property and two retail units and excludes net working capital and post completion adjustments.
  • (2)The property was valued by CBRE Limited using the Discounted Cash Flow method for the hotel component and Capitalisation method for the retail component.
  • (3)Based on average exchange rate of £1.00 = S$1.7077. As acquisition was completed on 6 November 2024, the financials only relate to the period from 6 November 2024 to 31 December 2024.

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