European investment and asset management firm Avignon Capital has sold Staybridge Suites the Hague Parliament hotel.
The buyer of the hotel at 10/11 Lange Vijverberg is an international private investment vehicle.
Avignon bought the building in 2018 as an off-market commercial office that was being converted into a 101-key serviced apartment hotel.
The 6,500 square meter hotel is opposite the Dutch National Parliament, hence its name.
Staybridge Suites the Hague Parliament hotel includes a gym, shared lounge, meeting rooms, a laundry room, a lobby restaurant, and 37 underground parking spaces. It is operated by the Borealis Group.
Savills advised Avignon Capital. Loyens & Loeff (seller) and Van Campen Liem (buyer) provided legal advice. INEXS Projectmanagement gave technical advice.
Ruben Schuuring, Associate Director Hotel Investment at Savills in the Netherlands, says, “Partly due to rising interest rates and geopolitical events, the overall real estate market is facing challenging times. Nevertheless, interest in long-term leased hotel properties remains strong among both domestic and international investors. In addition to Amsterdam and Rotterdam, we are observing growing interest from buyers in The Hague.”
In 2020, Avignon Capital acquired the five-star Hilton Hotel in The Hague for €70.25million.
