Aviva Investors buys £150m central London hotel

Aviva Investors has acquired a £150m, 22-storey hotel in Aldgate, central London. The investor’s Lime Property Fund acquired the freehold interest and has agreed a deal with the London Borough of Barking and Dagenham to lease the asset once a fit-out has been completed, with the freehold transferring to the borough at expiry of the lease. The property provides 190 apartments, as well as a gym, café, restaurant, bar and co-working members club. The asset will be operated under the Gate brand and will be open to guests at the beginning of 2020. Mark Wells, director of real estate origination