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PPHE Hotel Group Limited, through a subsidiary of its European Hospitality Fund, completed the acquisition of a 13,000 sqm development site near The City of London on September 5, 2025, for £17.5 million. The site has planning permission for a development due to open in 2029, featuring a minimum of 182 hotel bedrooms and 41,000 sq ft of office space, with an expected all-in investment of circa £90 million.
| Date | 5 Sept 2025 |
| Time | 09:16:59 |
| Category | Acquisitions and alliances |
| ID | 2097Y |
5 September 2025
PPHE Hotel Group Limited
("PPHE", "PPHE Hotel Group", the "Company" or the "Group")
Completion of the acquisition of a prime development site near The City of London
Site earmarked for PPHE's first select service hotel in London
Further to the announcement on 23 June 2025, the Company is pleased to announce that, via a subsidiary of its European Hospitality Fund (the "Fund"), it has now completed the acquisition of a development site near The City of London for a consideration of £17.5 million.
The 13,000 sqm mixed-use development site is located in a prime central location near the City of London and Tower Bridge and has planning permission. Due to open in 2029, the development will feature a select service Radisson RED lifestyle hotel, with a minimum of 182 bedrooms, a restaurant, bar and gym and 41,000 sq ft of office space. The Group expects an all in investment of circa £90 million for this project, including the site acquisition price of £17.5 million, with an expected running unlevered annual yield of high single digit at stabilisation. The development will focus on sustainability targeting a BREEAM 'Excellent' environmental accreditation.
This acquisition marks the second property to be acquired by the Fund in line with its strategy, following the earlier acquisition and development of the recently opened five-star art'otel Rome Piazza Sallustio.
Enquiries:
|
PPHE Hotel Group Limited Greg Hegarty, Co-Chief Executive Officer Daniel Kos, Chief Financial Officer & Executive Director Robert Henke, Vice President Commercial Affairs |
Tel: +31 (0)20 717 8600 |
|
h2Radnor Iain Daly / Joshua Cryer |
Tel: +44 (0) 203 897 1830 |
|
Hudson Sandler Wendy Baker / Nick Moore / India Laidlaw |
Tel: +44 (0)20 7796 4133 |
Notes to Editors
PPHE Hotel Group (LSE: PPH) is an international hospitality real estate company, with a £2.2 billion portfolio, valued as at December 2024 by Savills and Zagreb nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets in Europe.
Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises1 hospitality real estate. Its portfolio includes full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations. The Group's strategy is to grow its portfolio of core upper upscale city centre hotels, leisure and outdoor hospitality and hospitality management platform.
PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.
PPHE Hotel Group is a Guernsey registered company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group ('AHG'), whose shares are listed on the Prime market of the Zagreb Stock Exchange.
Company websites: www.pphe.com | www.arenahospitalitygroup.com
For reservations:
www.parkplaza.com | www.artotel.com | www.radissonhotels.com | www.arenahotels.com | www.arenacampsites.com