AXA checks in to City Road
AXA Investment Management – Real Assets is close to securing a deal to buy the hotel at Berkeley Group’s 1.2m sq ft mixed-use development 250 City Road, EC1.
The fund manager has agreed to pay close to £85m for the 190-bedroom hotel, designed by Foster + Partners, as it looks to expand its €2.5bn alternatives platform.
It is expected to team up with an international brand to operate the hotel, which is scheduled to complete in Q4 2017.
The 5.5-acre, 1.2m sq ft scheme will provide 930 flats, 75,000 sq ft of offices and 40,000 sq ft of bars and restaurants. JLL and Hall Kemp are advising Berkeley on the sale.
amber.rolt@estatesgazette.com
AXA Investment Management – Real Assets is close to securing a deal to buy the hotel at Berkeley Group’s 1.2m sq ft mixed-use development 250 City Road, EC1.
The fund manager has agreed to pay close to £85m for the 190-bedroom hotel, designed by Foster + Partners, as it looks to expand its €2.5bn alternatives platform.
It is expected to team up with an international brand to operate the hotel, which is scheduled to complete in Q4 2017.
The 5.5-acre, 1.2m sq ft scheme will provide 930 flats, 75,000 sq ft of offices and 40,000 sq ft of bars and restaurants. JLL and Hall Kemp are advising Berkeley on the sale.
amber.rolt@estatesgazette.com
AXA Investment Management – Real Assets is close to securing a deal to buy the hotel at Berkeley Group’s 1.2m sq ft mixed-use development 250 City Road, EC1.
