Forsters advise on west London hotel development
Forsters has acted on behalf of real estate investment and development advisor, Investra Capital, in relation to the development of a 120-bed hotel in Ealing.
The £17 million hotel has been pre-let to Accor on a 20 year lease with RPI-linked rent reviews and a yield of 4.5%. It will be run under the Ibis Styles brand. The site is considered to be a prime location in Ealing, located on Uxbridge Road, it is set to benefit from the substantial improvements being made to Ealing's railway links as part of the Crossrail upgrades.
AXA Real Estate has funded the development, which is currently under construction and anticipated to reach completion in June 2016.