Safestay to Sell London Hostel Leasehold for GBP3 Million

04:38 AM EDT, 08/05/2026 (MT Newswires) -- Safestay (SSTY.L) said Wednesday it agreed to divest its leasehold interest in the Safestay London Kensington Holland Park hostel to rental properties operator Acerhawk for 3 million pounds sterling in cash. In addition to the leasehold, the deal covers the European hostel group's hostel business operations in the property. Following completion, expected by the end of October, subject to customary closing conditions, the hostel will cease to operate under the Safestay brand. Safestay said it will use the net proceeds to repay debt, fund working capital and strengthen its balance sheet.