LaSalle Investment Management has acquired a central London hotel from abrdn for £56 mln (€66 mln) on behalf of a UK Custom Account client.
The 291-room hotel is on the Minories, at Tower Hill in the City of London. The hotel is let to Motel One – the European hotel operator – on a long-term inflation-linked lease and has a BREEAM ‘Excellent’ rating on its construction in 2014 and has an EPC rating of ‘A’.
Sophie Simmonds, MD, UK Custom Accounts, said the clients portfolio was growing.
‘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.’
LaSalle was advised on the transaction by Kimmre. abrdn was advised by JLL.
