CBRE and JLL Launch For Sale Double Tree by Hilton, Docklands

London, 24 September 2015 – CBRE and JLL have launched for sale, the Double Tree by Hilton, Docklands on behalf of private equity company, HIG Bayside Capital and asset management partners CS Hotels.  

Following a multi-million refurbishment, the 147,000 sq ft, 378 bedroom hotel, located on the Thames riverfront, the hotel was re-launched to the market in July 2015 as the Double Tree by Hilton London Docklands Riverside hotel. 

The sale comes at an optimum time for London hotels. The market benefits from an incredibly diverse array of demand drivers and global source markets, this resulted in resilient trading performance throughout the recession and strong growth thereafter. Whilst occupancy has held steady over the last 6 years at around 80%, hotels have converted heightening demand into average rate increase of 18% based on the 2008 peak. This performance becomes even more admirable when considering the 2.6% compounded net supply increase in city hotels over the last 7 years; further cementing London’s status as one of the world’s greatest hotel markets.

Dominic Murray, Director, Hotels, CBRE said: 

“The campaign will generate strong interest from a range of investors keen to add a significant newly refurbished London hotel to their portfolio. 

“The hotel appeals to corporate and leisure travelers alike, with historical links to the docklands  area, the former 17th century wharf building benefits from a new restaurant and bar, outdoor dining area, cigar terrace, 13 meeting rooms, a new gym and is the only hotel in London with a private pier, providing a shuttle ferry across the river to the Canary Wharf.” 

Adam Wilson, Senior Vice President with JLL’s Hotels & Hospitality Group said:

“This newly refurbished, Hilton branded asset, is uniquely placed to benefit from the development boom which is underway in the Docklands.  The DoubleTree is particularly unique as it is operated by Hilton under a Franchise Agreement, which sees the hotel operated by Hilton at present but offers an owner the flexibility to operate the property with a DoubleTree Franchise Agreement in the near term.”

Jileen Loo, Global Capital Markets, Hotels CBRE added: 

“It is a really exciting time to be in the property market, there is a huge weight of capital looking to be deployed into alternative investments and borrowing rates are extremely low. London has always been attractive to international and domestic buyers alike, but what is special about this opportunity is the buzz around the hotel sector as an alternative to the core commercial markets. Recent surveys and discussions with our investors, especially those from the Far East show that there is an increased level of interest from our Asian buyers to expand hotels within their portfolio. Hotels of this size rarely come on to the market so we expect it to gain a lot of attention.”

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue).  The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com