ActivumSG and Global Hospitality Investment buy London mixed-use asset for £21m
ActivumSG, working with Global Hospitality Investment Group, has acquired a mixed-use asset Sutton Point. Located adjacent to Sutton train station in Greater London, the hotel-led asset which was originally developed in 2019 was purchased for £21 million.
Upon closing, the non-hospitality elements of the scheme were sold in multiple back-to-back disposals, with the two hotels - a 99-key Ibis hotel and a 59-key Adagio aparthotel – retained. The asset is labelled BREEAM Excellent, and the Adagio and Ibis hotels benefit from EPC ‘A’ and EPC ‘B’ ratings respectively.
Real estate private equity investment manager ActivumSG says it will leverage its expertise investing in hotels and hotel operators to enhance the value of the hotels. Other assets in ActivumSG’s portfolio include The Nobu Hotel Barcelona and The SLS Barcelona. The purchase of Sutton Point represents the company’s first-ever hospitality-focused direct real estate play in the UK.
The retained hospitality assets were financed with a priced senior loan provided by Leumi UK, led by Leumi’s relationship director Steve Crosswell.