BridgePoint Ventures is in talks to fund a four-star hotel development opportunity in the Olympic Park in Stratford, E20.
The investment firm is backing a joint venture between Starboard Hotels and Union Hanover to buy the 275,000 sq ft project in Lend Lease’s and London & Continental Railways’ International Quarter.
Sources suggest the site could fetch between £10m and £15m.
The jv is eyeing the scheme for the Urban Villa apart-hotel concept.
The chain has already secured sites in the City, Aberdeen and Portsmouth, and is negotiating on another in central Edinburgh for the venture.
The jv is also in discussions to sign another hotel operator at the site in east London.
Outline consent at the £1.3bn International Quarter has already been granted for a 377 ft-tall hotel. The scheme also includes 4m sq ft of offices and 350 homes.
University College London is in talks with Lend Lease and LCR over a £1bn campus after ending plans to redevelop the nearby Carpenters Estate.
Savills is acting for Lend Lease and London & Continental Railways.
annabel.dixon@estatesgazette.com
