BCLP advises OneIM on £375m acquisition of The Other House

BCLP advised OneIM on the £375m acquisition and financing of The Other House platform, comprising a portfolio of three central London hotel assets.

The portfolio currently features two operational assets, The Other House South Kensington and The Other House Covent Garden, with the third asset currently being developed at the former Belgravia police station on Buckingham Palace Road. The portfolio will be repositioned under a new wellness-led luxury hospitality brand.

Cheyne Capital provided the £375 million loan, representing one of the largest loan transactions in London this year.

Laura Wild commented: “This was a hugely exciting, high-value hospitality platform acquisition across three flagship London assets. It’s a brilliant example of our multidisciplinary capability coming together seamlessly – and we are delighted to support OneIM as it continues to build its Pan-EU / UK real estate presence”

The BCLP team was led by Partner and Hotels & Hospitality Global Co-Lead Laura Wild and Senior Associate Benjamin Sutton. Further support was provided by: 

• Construction: Nick Danev, Consultant and Natalie Wardle, Counsel; 

• Planning: Giles Pink, Partner and Ollie Greaves, Senior Associate; 

• Rights of Light: Edward Gardner, Partner and Rachel Katz, Associate; 

• Regulatory: Jeremy Bark, Counsel;

• Real Estate: Stephanie Cannon, Senior Associate and Antonio Rodrigues, Trainee.