LaSalle Investment Management (LaSalle), the global real estate investment manager, has acquired a central London hotel from abrdn for €65.5m on behalf of a UK Custom Account client.
The modern, 291-bedroom hotel is situated on the Minories, at Tower Hill in the City of London. On a long-term inflation-linked lease, the hotel is let to Motel One – the European hotel operator. The building achieved a BREEAM ‘Excellent’ rating on its construction in 2014 and has an EPC rating of ‘A’.
Sophie Simmonds, Managing Director, 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.”
LaSalle was advised on the transaction by Kimmre. abrdn was advised by JLL.
Image provided by Hawthorn Advisors.
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