Contracts on the sale of hotels at Heathrow and Stansted airports have been exchanged for a combined value of £40.3m.

The two hotels – the Radisson SAS at Stansted and the Jurys Inn at Heathrow – are both recent developments and offer a total of 864 bedrooms.

BAA Lynton sold the head lease interest in the 500-bedroom Radisson SAS to the Airport Hotels Partnership for £24m and the head lease interest in the 564-bedroom Jurys Inn to the Blair Group for £16.3m.

CB Richard Ellis Hotels acted on behalf of BAA Lynton, the commercial property development sector of BAA, on both sites.

CBRE Hotels’ Serge Sonti said: “Exceptional ground leases such as these are like gold dust and appropriately generated a huge level of interest.”

Managing director of BAA Lynton, John O’Halloran, said: “These two sales mark the successful culmination of our current hotel development programme. Both these hotels are strong additions to their respective airports and offer exceptional brands to both leisure and business travellers.” Details: www.cbrehotels.com