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Sign in Sign up for a FREE subscriptionAviva Investors pays $130m for new London Docklands hotel
Aviva Investors has acquired the freehold interest of a site in London through its Lime Property Fund for £106 million ($130 million/€124 million).
It is located next to Westferry DLR station. And developer Rockwell will build a 30-story Premier Inn Hotel on the site.
Whitbread, Premier Inn’s parent company and one of the United Kingdom’s largest hospitality companies, will take a 30-year lease of the hotel and restaurant, which will become the brand’s largest hotel in central London.
“This notable acquisition further demonstrates our proven track-record and supports our ambitious plans for the London hotel sector with the creation of more than 2,500 hotel rooms. In partnership with Whitbread, we are proud to deliver a landmark hotel that stands the test of time,” said Donal Mulryan, Rockwell’s founder.
The development is scheduled for completion in early 2022.
The Lime Property Fund is a long-income real estate fund with a net asset