A new Hampton by Hilton hotel in London's Docklands is set to be developed after a £20m finance facility was provided to Marick Real Estate by private investment group Topland.
The 190-bedroom property will be positioned between ExCel exhibition centre and City Airport, and will be part of a new leisure quarter with two other hotels, including an already-open 131-bedroom Travelodge, and a soon-to-be-built four-star site.
Topland structured finance manager Edward Matthews said: "The fundamentals of this deal were particularly sound. Marick is a very experienced real estate player and this location makes great sense."
Topland, which now has a portfolio of 30 directly-owned hotels, has committed to deploy £200m to the hotel development sector, and the company's executive chairman Sol Zakay today confirmed that Topland has ambitious plans to expand.
In April this year it announced the renovation of Bath's Royal Crescent Hotel & Spa, following its acquisition two years earlier, while in July it was reported that Topland had acquired eight Hallmark hotels in a £75m deal.