BLP advises PPHE Hotel Group on £161.5m sale and leaseback of Park Plaza London Waterloo
BLP’s market leading hotels practice has acted for longstanding client PPHE Hotel Group on the sale and leaseback of the Park Plaza London Waterloo, a newly developed 494-room hotel and spa in Central London. The freehold interest is to be acquired by a unit trust created on behalf of several clients of CBRE Global Investors for £161.5 million, subject to a 199 year lease to a PPHE Hotel Group entity.
The multi-disciplinary team at BLP was led by Partner and Head of Hotels Group, Karen Friebe, supported by Real Estate Associate Daniel Davies, Head of VAT Alan Sinyor and Tax Senior Associate James Hamon.
Discussing the deal, Karen Friebe said: “We are delighted to have had the opportunity to work with PPHE Hotel Group in bringing this important deal to fruition.”