A 130-bedroom hotel currently being developed overlooking the River Thames, close to the Royal Arsenal Woolwich Crossrail station, has been put up for sale.
Located within an 88-acre, £1b scheme being developed by Berkeley Homes, the Royal Arsenal Riverside hotel is due to be completed at the end of 2016, more than three years after it was originally due to be open. It will incorporate a bar and restaurant, and will sit alongside 5,000 homes, 900,000 sq ft of commercial space, shops and restaurants.
The new waterfront community - transformed from a derelict industrial ammunitions site - is one of Europe's largest mixed-use regeneration projects.
Will Duffey, executive vice president in JLL's hotels and hospitality team, which is marketing the unfinished property, said: "This sale offers an excellent investment opportunity to own a hotel with vacant possession and to operate under a preferred structure in one of London's up and coming areas. The Crossrail connection will mean that the hotel will be eight minutes from Canary Wharf, 20 minutes from the West End and just under an hour to Heathrow."
The new Royal Arsenal Woolwich Crossrail station is set to open in 2018.
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