PREMIER INN HUB PROJECT IN LONDON FORWARD SOLD

Private equity investment firm Osprey Equity Partners has on-sold a Hub by Premier Inn development on Brick Lane, in east London, to an unnamed UK-based institutional fund for £34.7 million (£183,600 per room). The 189-room hotel is being developed by Endurance Land, and Osprey has sold on its forward funding position. The sale is due to complete when construction of the building is completed next year, with this latest deal reportedly representing an initial yield of around 4.25%. The development has been pre-let to Whitbread for 30 years

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