Real estate investment company Aprirose has acquired the Hampton by Hilton Hotel in London Docklands for £35m.
The 209-bedroom hotel, which is currently under development, is expected to complete early this year.
The hotel, a franchise agreement with Hilton, is the first management contract undertaken by Aprirose, which has has appointed Redefine|BDL Hotels (RBH) to manage the hotel.
The seven-storey hotel comprises facilities including two meeting rooms, a fitness room, bar and restaurant, and is located within the area undergoing a £1.7b regeneration as part of the Royal Docks development plan. The scheme will become London's third business district after the City and Canary Wharf.
Aprirose's £1b real estate portfolio already includes 16 hotels, including the Leonardo Hotel London Heathrow Airport and the Legoland hotel in Windsor, due to open in July. It also acquired 52 Poland Street in London last month for £30m with the intention of turning it into a 110-bedroom Z Hotel.
Aprirose was advised by West Ridge Asset Management and CBRE Hotels advised the seller, believed to be Lone Star.
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."
Andrew Robb, chief business development officer at RBH, added: "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."
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