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Sign in Sign up for a FREE subscriptionUBS REPM funds mixed-use tower in Central London
UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has plans to provide equity funding for the development of 39 East Road, a new hotel and office asset in Central London. The transaction is formed as a joint venture, with UBS-AM REPM providing funding alongside development partners BSW Land and Property and the Pickstock Group, and once completed, will have a value of more than £100 million (€120 million/$130 million).
The 23-story building will include 18 floors of dedicated hotel space, more than 25,000 square feet of office space, providing a broad offering to tenants in a Central London sub-market.
The development offers an attractive investment rationale, underpinned by a 30-year lease to hotel operator Motel One, providing stable and predictable inflation-linked cash flows and strong risk-adjusted returns. The office space at the site aims to facilitate new hybrid working models, and plans to achieve Excellent BREEAM certification, underli