Vacant 15,285 sq ft building will become 220-bed hostel
Profit has quadrupled in the six years since Queensgate Investment bought the business
Sales to hostel operators will be preferred, but only where possible
Hostel operator says disposals are now the best way to generate much-needed short-term capital
The hostel market has come of age and is challenging perceptions about budget accommodation. That could bring opportunities for property investors
Queensgate Investments has exchanged contracts to buy Generator, Patron Capital’s up market hostels business for €450m (£384m)
Queensgate Investments has entered exclusive talks to buy Generator, Patron Capital’s upmarket hostels business