LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a central London hotel from abrdn for £56 million on behalf of a UK client.
The modern, 291-bedroom hotel is situated on the Minories, Tower Hill London. The hotel is let to Motel One, the European hotel operator on a long-term inflation-linked lease. 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.”