LaSalle Investment Management has acquired a £56m (€66.5m) hotel in UK’s capital from asset manager Abrdn.
The global real estate investment manager said the 291-bedroom asset situated on the Minories, at Tower Hill in the City of London on behalf of a UK custom account client.
The hotel is let to European hotel operator Motel One on a long-term inflation-linked lease.
Sophie Simmonds, managing director of UK custom accounts at LaSalle, said: “We are delighted to add this acquisition to our client’s growing portfolio.
“The hotel meets our objectives, being a high-quality asset with strong sustainability credentials, in a fantastic city-centre location, with a long-term inflation-linked income stream, and leased to a leading European hotel operator.”
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