AXA commits £90M for new NH London hotel

AXA Investment Managers - Real Assets has committed, on behalf of a U.S. pension fund, to the acquisition of the shell and core from the Berkeley Group, and to undertake the fit-out of a new hotel complex in central London, representing a total investment of an estimated £90 million. Construction of the hotel is already under way, and shell-and-core delivery is planned for early 2018.

This transaction is poised to further strengthen AXA IM - Real Assets' €2.7 billion alternatives platform, which includes healthcare facilities, hotels, and forestry assets, primarily in Europe. €1.5 billion of that total is dedicated to the company's hotel portfolio

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


According to Property Week, the City Road hotel will be fitted out and operated by NH Hotels Group. The eight-story hotel's exterior envelope was designed by British architects Foster + Partners as an upscale space in the London sub-market; the interior will have 190 guestrooms. NH Hotels Group will operate the hotel under its NHow brand.

The Berkeley Group secured planning permission for the 5.5-acre 250 City Road development project in August 2014 and, in addition to the four-star hotel, the 1.2 million-square-foot mixed-use plan will include 75,000 square feet of office space, an estimated 40,000 square feet of retail space and 933 residential apartments. The development, adjacent to Old Street roundabout, is poised to benefit from the anticipated growth of East London's Tech City due to both its central location and connectivity, with a number of tube and over-ground stations nearby.

JLL and Hall Kemp acted as joint-advisers to the vendor.

Suggested Articles

Lodging owners who have the appropriate resources and capital have an opportunity to renovate at an accelerated rate and at more competitive prices.

The £18.4 million fine stems from a data breach discovered after the company purchased Starwood Hotels & Resorts Worldwide.

The company's revenues declined from $560 million in the third quarter of 2019 to $337 million in the third quarter of 2020.