Legal & General Investment Management Real Assets (LGIMRA) has acquired the newly completed Hyatt Place and Hyatt House in Leeds city centre, marking a strategic expansion into the alternative real estate sector through its Managed Property Fund.
The dual-branded hotel offers a total of 305 rooms across 17,400m², with 217 standard hotel rooms under Hyatt Place and 88 extended-stay suites under Hyatt House. Situated directly opposite Leeds City train station and within walking distance of major venues like the First Direct Arena, Trinity Leeds, and the Grand Theatre, the hotel is expected to benefit from strong tourism and business demand.
Opened in March 2025 and operated by Aimbridge Hospitality, the hotel features all-electric infrastructure and has achieved a BREEAM ‘Excellent’ sustainability rating. The asset, acquired under a franchise agreement with Hyatt, aligns with L&G's drive to invest in ESG-aligned, high-performing alternatives in regional markets.
“We’re delighted to announce the acquisition of Hyatt hotel in Leeds city centre. This represents a fantastic opportunity for the fund, in line with its growth strategy to invest in best-in-class assets in prime regional locations in the Alternative sectors,” said Rob Codling, Head of UK Institutional Funds, Private Markets, L&G. “This acquisition reaffirms our belief that the hotel sector offers attractive fundamentals, with potential to outperform the wider property markets in the long term.”
The acquisition supports the West Yorkshire Local Growth Plan’s call for more high-quality accommodation to boost tourism and economic resilience. For investors and developers, the site’s flexible dual-use model and strong ESG performance provide future-proofing against regulatory tightening and appeal to institutional capital seeking long-term stability.
With tourism-driven occupancy rates forecasted to rise in the region and increasing international interest in Northern Powerhouse cities, L&G's move underscores confidence in the recovery and outperformance of well-located hospitality assets across the UK’s key secondary cities.
People mentioned
Rob Codling – Head of UK Institutional Funds, Private Markets, L&G
Companies mentioned
Legal & General (L&G) – Acquirer, fund manager
Hyatt – Brand/franchise holder
Aimbridge Hospitality – Hotel operator
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