Deka Immobilien has acquired the Ruby Zoe hotel in London’s Notting Hill Gate for the equivalent of c. €62m. It will be added to the portfolio of the open-ended real estate fund Deka?ImmobilienMetropolen (DIM).
The hotel was developed by Frogmore who acquired the site, originally a retail and residential block, as part of the Notting Hill Gate Estate for their Frep III private equity fund with co-investment partner, Morgan Stanley.
Completed and opened in May 2023, this 4-star hotel has 173 rooms over 7 floors and offers 6 parking spaces. It is leased long-term to Ruby Hospitality UK Ltd, a subsidiary of the rapidly expanding Ruby GmbH hotel group based in Munich. The new building is located in Notting Hill, northwest of Hyde Park. Notting Hill is part of the Royal Borough of Kensington and Chelsea, which is one of London's most exclusive areas. The Ruby Zoe is the second Ruby hotel in London and boasts excellent transport links. The aim is to have the building certified as "Very Good" by BREEAM, the British quality mark for sustainable building.
Image provided by Deka Immobilien.
Europe Real Estate — an overview of real estate developments in European countries.
