CBRE Global Investors buys Waterloo hotel for £160m

CBRE Global Investors has bought Park Plaza London Waterloo hotel, Hercules Road, Waterloo, central London in a club deal for a number of its pension fund investors for £160 million ($208 million).

“This is an attractive investment opportunity in the heart of London on a site with high residual value but also leased to a major global hotel operator, offering considerable security,” said Michael Ness, head of U.K., CBRE Global Investors, in a statement.

The PPHE Hotel Group has committed to a sale-and-long-term leaseback through the hotel owning entity, Waterloo Hotel Holdings BV.

The Park Plaza hotel is a newly completed, upscale full-service hotel with 494 rooms.