BCLP advise on sale of Hyatt Place London City East hotel to Sun Venture

BCLP has advised a fund managed by long-standing client Resolution Property on their sale of the Hyatt Place London City East Hotel to Sun Venture (a Singapore-based investment firm) by way of a business sale, which completed on 26 February. The former office at the site at 45 Whitechapel, London was turned into a 280-key hotel. BCLP acted on the full lifecycle of the building: the acquisition in 2015, the subsequent re-development and now the sale.

The acquisition represents Sun Venture’s first foray into the hotel sector. The hotel will continue to be managed by Cycas Hospitality, a renowned European hotel management company.

Scott O’Donnell, partner at Resolution said: “Hyatt Place London City East is a BREEAM ‘Excellent’ certified hotel providing guests with a superbly well-connected hotel, offering a number of amenities and a roof terrace with unrivalled views over East London. Resolution Property acquired the asset in 2015 and have successfully repositioned and refurbished it into one of London’s most high-performing sustainable hotels. Having guided the hotel through its opening and stabilisation period, we are pleased to have found a new owner who will continue its story going forward.”

The multi-disciplinary team was led by Emma le Wita, Adam Bogdanor and James Banks, with huge support from Owen Etwaroo (Real Estate), Olivia Turner (Construction), Nicola Birman and Jacquelynne Baey (Corporate Real Estate), Mark Kaye (Employment) and Shanshan Wu (Finance)

Taylor Wessing acted for Sun Venture.