£106m Deal Seals Largest Central London Premier Inn Hotel
A £106m investment deal has been sealed for a 400-bed Premier Inn hotel adjacent to Westferry DLR station, set to become the largest in central London. The 30-storey development, designed by Buckley Gray Yeoman, is scheduled for completion in early 2022 and will provide a gateway to Canary Wharf.
Rockwell, in collaboration with Aviva Investors, has finalised the deal, with Aviva acquiring the freehold interest of the site through its Lime Property Fund. Whitbread will occupy the hotel and restaurant under a 30-year lease. Avison Young and CBRE acted as advisors for the transaction. The development will also include 66 new homes, with 35% designated as affordable housing.
Donal Mulryan, Founder of Rockwell, expressed the significance of the development and the successful transaction. Kris McPhail, Fund Manager at Aviva Investors, echoed his satisfaction, highlighting the scheme's benefits for investors.
The £106m investment deal for the 30-storey development, set to be the largest Premier Inn hotel in central London, has been finalised. The project, scheduled for completion in early 2022, will provide a mix of accommodation, retail, and residential spaces, including affordable housing.
