North Wharf Gardens

Overview

Location

Paddington, London 

Purchase price

£201.4m

Reasons for buying

Acquisition of a long leasehold interest in a development site in Paddington and subsequent forward funding of a c.617-room hotel pre-let to Premier Inn and Staycity. 

The property was let on two 30-year FRI leases subject to five yearly rent reviews linked to CPI compounded annually with a 0-4% collar.

Timing

January 2019

 

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