Source - SMW
Urban&Civic has sold the recently-completed Hampton by Hilton hotel at Stansted Airport to LGIM Real Assets for a minimum consideration of £48.3m.

An additional sum of up to £1.1 million will be paid to Urban&Civic, depending upon operational performance over the next two years.

The new hotel opened for trading in late July 2017 and is one of only two that are on-terminal at Stansted. 

Initial occupancy levels and achieved room rates are running above pre-opening forecasts, Urban&Civic said.

At 8:25am: (LON:UANC) Urban  Civic Plc share price was +2.5p at 267.5p