Berkeley Homes has agreed the sale of a hotel site at its Royal Arsenal Riverside development in London to Geminex Hotel and Leisure Management.
Geminex, an owner and developer of independent hotels, plans to develop a 132-room Express by Holiday Inn, which will open in 2011 at the mixed-use site.
Royal Arsenal Riverside will include 3,700 homes, a new public park that will run down to the banks of the River Thames, as well as bars, cafés, restaurants and office space.
Royal Arsenal Riverside is being developed with the support of the London Development Agency.
Property agent DTZ's hospitality team acted for Berkeley Homes.
By Gemma Sharkey
E-mail your comments to Gemma Sharkey here.
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs