London,
03
September
2019
|
08:55
Europe/London
CBRE advises Ocubis on the sale of Shoreditch hotel development site
Global real estate advisor CBRE together with joint agent Capital Real Estate Partners have advised Ocubis on the sale of a freehold hotel development site to Dalata Hotel Group Plc for £32m.
The site is located at 49-51 Paul Street in the heart of Shoreditch, an area known for its vibrant retail, nightlife and leisure amenities.
The hotel will be branded Maldron with 130 to 140 rooms and is expected to open in early 2022. The total cost of developing the hotel will be approximately £60 million, including the site cost of £32.05 million.
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We received exceptional demand from domestic and international investors, demonstrating that despite any Brexit concerns, London is still one of the world’s leading hotel markets.
Lewis Corby, Hotel Brokerage ＆ Investment Sales, CBRE
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