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http://www.propertyweek.com/news/docklands-doubletree-snapped-up-by-first-time-chinese-investor/5084799.article

26/08/2016

Docklands Doubletree snapped up by first-time Chinese investor

Johnson Capital Group has acquired the 378-bed Doubletree by Hilton hotel in London’s Docklands for around £80m, on behalf of a Chinese investor entering the UK for the first time.

The vendor was HIG affiliate Bayside Capital, which put the hotel on the market in August 2015 following a major refurbishment and rebranding of the asset from the main Hilton brand to a DoubleTree.

The 147,168 sq ft hotel is located south of the river in Rotherhithe, in a former wharf building dating from the 17th century. 

It is believed to be the first hotel sold along with its management agreement since the EU referendum. The transaction represents a stabilised yield of 6%.

Bayside bought the hotel from Swedish investor Pandox AB in 2014, with a guide price of around £60m.

CBRE and JLL acted on the sale.



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