UK: Real estate investment, development and asset management firm RE Capital has bought the Ruby Stella lodge in London to LaSalle Funding Administration for £48 million.
Situated on Eyre Avenue Hill in Farringdon, Ruby Stella is a purpose-built lodge with 153 rooms and ground-floor restaurant, bar and courtyard terrace. The lodge has additionally achieved an ‘Wonderful’ BREEAM ranking with an EPC ranking of A6.
It marked the twentieth European lodge to open below Ruby when it launched in November 2024.
Luke Dhanoa, head of UK asset administration, RE Capital UK, mentioned: “We’re proud to have delivered the Ruby Stella Resort, a thoughtfully designed, extremely sustainable asset that displays our values of high quality, integrity, and long-term imaginative and prescient. Working with Ruby Hotels has been a pleasure, and we’re assured the undertaking will proceed to flourish below its new possession. Our thanks additionally go to Savills for his or her helpful advisory position on this transaction.”
Richard Dawes, director at Savills lodge capital markets, mentioned: “We’re delighted to have acted for RE Capital on the sale of the Ruby Stella for £48 million. The property’s long-term lease to an institutionally trusted operator made it a horny proposition for traders. The Ruby Stella is exceptionally positioned to supply sturdy returns backed by its location, excellent sustainability credentials and ‘lean luxurious’ providing. Congratulations to LaSalle on their acquisition.”
Gavin Vollans at Katten Muchin Rosenman LLP suggested RE Capital. Pedro Milborne at Constantine RE and Gowling WLG suggested LaSalle.
Highlights:
• The Ruby Stella lodge positioned in Farringdon, London, has bought for £48 million to LaSalle Funding Administration.
• It options 153-rooms, a restaurant and a bar, and has achieved BREEAM Wonderful ranking.
• The aim-built lodge launched in November 2024 because the twentieth Ruby property in Europe.
• Savills suggested RE Capital on the sale with LaSalle represented by Constantine RE and Gowling WLG.
