Chinese property magnate Y.T. Realty Group has acquired a central London Travelodge for around $55.4 million, another manifestation that foreign buyers are in haste to scoop up UK assets following the Brexit vote.

Zhang Songqiao's Hong Kong-based Y.T. Realty Group revealed that it has acquired the Liverpool Street Hotel of Travelodge in Central London from two Luxembourg-based firms that are operating in the European real estate industry.

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Y.T. Realty Group, which acquired the 142-room, 45,000 square-foot, and six-storey hotel, aims to "further expand the group's overseas property portfolio and enhance its strategic investment in well-developed markets such as the United Kingdom," the firm said in a filing to the Hong Kong Stock Exchange.

"It is expected that the London Property will generate a stable and recurrent rental income for the Group."

The acquisition came after the Pounds dropped against other major currencies following Britain's decision to leave the European Union. The steep depreciation makes assets in Britain more attractive and cheaper for foreign investors.

Other latest acquisitions include Wells Fargo's revelation on Monday that it has agreed to purchase an 11-storey building in London for around $392.35 million.

Also, Japan's SoftBank recently snapped up microchip maker Arm Holdings for around $31.77 billion, a deal which could herald the beginning of overseas companies' shopping spree in the UK.  

Meanwhile, US cinema chain AMC, which is owned by China's richest man Wang Jianlin, has acquired the Odeon and UCI cinema chain business from Guy Hands' private equity company Terra Firma for more than $1 billion.

TagsY.T. Realty Group, London Travelodge, Liverpool Street Hotel, brexit