LaSalle Investment Management has bought the 291-bedroom Motel One at 24-26 Minories, EC3, for £56m.
The asset, acquired from Abrdn, was purchased on behalf of a UK custom account client.
The hotel is let to European hotel operator Motel One on a long-term, inflation-linked lease and 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: “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 deal by Kimmre; JLL acted for Abrdn.
Photo supplied by LaSalle
Send feedback to Samantha McClary
Follow Estates Gazette
