10 April 2017, London: Aprirose, the real estate investment company, has acquired the Hampton by Hilton Hotel in London Docklands, for £35 million. The hotel, which is currently under development, is expected to complete in early 2017.
The hotel, a franchise agreement with Hilton, is the first management contract undertaken by Aprirose. Aprirose has appointed the UK’s leading independent hotel management company, Redefine|BDL Hotels (RBH), to manage the Hampton hotel. RBH has extensive experience with the Hilton brand and the Docklands location.
Hampton by Hilton is a purpose-built hotel located within the Royal Docks regeneration area. The seven-storey hotel comprises 209 bedrooms and has facilities including two meeting rooms, a fitness room, bar and restaurant. The site is located within the area undergoing a £1.7 billion regeneration as part of the Royal Docks Development Plan. The scheme will become London’s third business district after the City and Canary Wharf.
Manish Gudka, Chief Executive Operator at Aprirose, said: “The Hampton by Hilton is a very exciting acquisition for Aprirose as we undertake our first hotel management agreement. It is a great opportunity to be working with RBH who are one of the top operators in the country.
“Based in the Royal Docks regeneration area the hotel benefits from demand from London ExCel, the O2 Arena, and London City Airport and is a strong investment for our investors both from an income perspective as well as potential for capital growth. This acquisition is one of many we have made post-Brexit as we continue to look for the right opportunities in today’s market.”
Andrew Robb, Chief Business Development Officer at RBH, said: “We are delighted to engage in our first hotel management agreement with Aprirose and excited that the Hampton by Hilton London Docklands will be our first hotel opening in 2017.”
“This impressive new hotel continues our successful partnership with Hilton and will complement the Hampton by Hilton London Gatwick Airport which is already part of our portfolio. By ensuring excellent guest service along with the strength of the brand we will ensure the hotel is a success in the dynamic Docklands market.”
The Royal Docks regeneration area is 300 metres from the Royal Albert DLR station, and in close proximity to Crossrail’s Custom House Station due to open in 2019.
Aprirose’s £1 billion real estate portfolio already includes 16 hotels.
Aprirose were advised by West Ridge Asset Management and CBRE Hotels advised the seller.