Aviva Investors acquires Dublin hotel property
Aviva Investors has acquired a hotel asset under construction in Dublin, Ireland, on behalf of its European Real Estate Long Income (E-RELI) Fund.
The property, located within the South Docklands business district of the city center, has been pre-let to Premier Inn under a long-term lease. The asset is scheduled for completion at the end of 2022.
“We are pleased to have secured such a high-quality asset in a prime location within this dynamic city, and to be working with Red Rock Developments in delivering the project to a best-in-class operator such as Premier Inn,” said Isabel Gossling, co-fund manager of Aviva’s European Real Estate Long Income Fund. “In line with the overall strategy of the fund, we expect this asset to provide investors with consistent long-term income which is underpinned by an investment-grade covenant and, importantly, linked to inflation. Current market conditions are reinforcing investor demand for assets of this nature, which we expe