JLL Hotels and Hospitality team facilitates sale of Hyatt Place London City East Hotel to Sun Venture

London, 27 February - JLL, a leading global real estate services firm, announces the completion of the sale of Hyatt Place London City East. This former office turned 280-key hotel was acquired by Sun Venture, a Singapore-based investment firm, marking their first foray into the hotel sector. JLL acted for the seller, Resolution Property.

Located in the heart of Aldgate, the freehold Hyatt Place London City East hotel holds immense appeal due to its strategic positioning in a rapidly transforming neighbourhood. Additionally, the proposed development of the 800k sq. ft. Whitechapel Road Life Sciences Cluster in proximity adds to the hotel's allure as an investment opportunity.

Under Sun Venture's ownership, the hotel will continue to be managed by Cycas Hospitality, a renowned European hotel management company. Cycas has been instrumental in ensuring the hotel's ongoing success and unwavering commitment to excellence.

The Hyatt Place London City East is on the Net Zero pathway in reference to the CRREM tool¹. The hotel opened in 2021 with BREEAM Excellent certification and has since received numerous accolades, including the Gold AirRated, Platinum SHe Travel Club, and Gold ActiveScore awards. Furthermore, its dedication to sustainability was recognised in 2023 when it won the prestigious ‘AHEAD’ award for sustainability, organised by Sleeper, the leading awards platform for Hospitality Experience and Design.

Rekha Toora, Senior Vice President, EMEA Hotels Capital Markets at JLL comments, "This iconic hotel exemplifies the dynamic growth of London's hospitality sector, and we are thrilled to have played a pivotal role in this transaction. The sustainability credentials of the hotel in an area undergoing continued transformation, makes it an incredibly attractive investment opportunity."

Will Duffey, Head of EMEA Hotels and Hospitality Capital Markets at JLL comments, “This deal is a true example of how JLL’s Global Hotel Desk works so well for our clients, in attracting and establishing new investors in both the sector and the region. With a dedicated senior team, who have long established relationships across the globe with capital sources, we are able to match investors with unique opportunities in the ever-evolving hospitality market."

Esther Siam, Director, Real Estate at Sun Venture comments, “Sun Venture is pleased to acquire Hyatt Place London City East, a quality hotel with strong trading performance and notable green credentials. This marks our first hotel acquisition and aligns with our strategy to expand and diversify our real estate portfolio. As a firm, we see great strength and resilience in the hotel sector in London and other gateway cities and look forward to growing our footprint in the sector.”

Scott O’Donnell, partner at Resolution said: “Hyatt Place London City East is a BREEAM ‘Excellent’ certified hotel providing guests with a superbly well-connected hotel, offering a number of amenities and a roof terrace with unrivalled views over East London. Resolution Property acquired the asset in 2015 and have successfully repositioned and refurbished it into one of London’s most high-performing sustainable hotels. Having guided the hotel through its opening and stabilisation period, we are pleased to have found a new owner who will continue its story going forward.”

About Resolution Property
Resolution Property was founded in 1998 with the specific aim of investing in UK and European commercial real estate that offers scope for high returns through a combination of good initial stock selection, active management, refurbishment and redevelopment potential.

Grounded in experience of some of Europe’s most successful urban development projects, Resolution Property creates inspiring places, from cutting-edge workspaces to vibrant retail destinations across Europe. Its London and UK regional office developments offer bespoke workplaces, recognising that creative companies thrive in stimulating environments. Across Europe, Resolution uses innovative and creative asset management techniques to release un-tapped value from outlet centres and mixed-use schemes.

About Sun Venture

Sun Venture is a Singapore-based multi-asset investment firm which invests globally and across different asset classes such as public equities, fixed income, private market funds, real estate, private equity, and alternatives. Its real estate unit owns and manages a portfolio of prime buildings across Singapore, London, and Sydney. For further information, visit www.sunventure.com

About Cycas Hospitality

• With a pan-European portfolio of over 50 global branded and independent hotels across 12 countries, Cycas Hospitality is Europe’s leading and fastest-growing independent hotel management company.
• Focused on delivering outstanding guest experience to drive superior investor returns, Cycas operates across all categories of hotels and serviced apartments for private and institutional investment partners.
• Cycas’s portfolio brings together a range of key-city locations, travel hubs and leisure destinations. Our properties range from limited service to luxury, and include spa, lifestyle and extended-stay hotels, as well as co-living and serviced apartments.
• With proven expertise in operations, property development and asset management, Cycas partners with all the major global brands, working with Accor, Hilton, Hyatt, IHG, Marriott and Radisson, in addition to design & development of independent hospitality brands.
• Thanks to its distinctive performance culture, commitment to talent and core purpose of developing and inspiring Europe’s best hospitality team, Cycas is consistently recognised as a ‘Best Place to Work in Hospitality’ (2021, 2022 and 2023).

To find out more visit www.cycashospitality.com or connect with us via LinkedIn and Instagram .

Footnote 1: CRREM (Carbon Risk Real Estate Monitor) is a widely used tool by real estate investors globally. It sets out the asset’s carbon reduction performance in line with the Paris Agreement.