HPI hotel acquisition and SPP

Hotel Property Investments (HPI) is acquiring another hotel leased to Coles: the Beenleigh Tavern in Eagleby, Brisbane. The price tag of $9.9m offers an initial yield of 7.9% and there are 12 years remaining on the lease. The lease grants HPI annual rent increases based on the CPI (up to a maximum of 3%), with other terms being similar to those of HPI's other properties leased to Coles (see HPI: beer we go again from 5 Mar 14 (Buy - $2.00)). HPI is funding the acquisition with a $25m institutional placement priced at $2.27 per share (already completed) and is...

Hotel Property Investments (HPI) is acquiring another hotel leased to Coles: the Beenleigh Tavern in Eagleby, Brisbane. The price tag of $9.9m offers an initial yield of 7.9% and there are 12 years remaining on the lease. The lease grants HPI annual rent increases based on the CPI (up to a maximum of 3%), with other terms being similar to those of HPI's other properties leased to Coles (see HPI: beer we go again from 5 Mar 14 (Buy - $2.00)).

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles