Savills, on behalf of RE Capital, a leading real estate investment, development, and asset management company, has sold the Ruby Stella Hotel in London to LaSalle Investment Management for £48 million.
Located on Eyre Street Hill in the heart of Farringdon, the Ruby Stella Hotel is just a stone’s throw away from London’s top sights, including Covent Garden, Soho and the Tower of London. The purpose-built hotel built RE Capital also benefits from excellent connectivity with Farringdon station an eight-minute walk away, from where it’s 40 minutes to Heathrow Airport.
The Ruby Stella Hotel opened to guests on 25th November 2024, offers 153 en-suite bedrooms and ground-floor shared space, including a restaurant, bar, and courtyard terrace. The development has an ‘Excellent’ BREEAM rating, an EPC rating of A6, and ESG-aligned features such as air source heat pumps and reduced CO2 emissions by over 35%.
Luke Dhanoa, Head of UK Asset Management, RE Capital UK, commented, “We are proud to have delivered the Ruby Stella Hotel, a thoughtfully designed, highly sustainable asset that reflects our values of quality, integrity, and long-term vision. Working with Ruby Hotels has been a pleasure, and we’re confident the project will continue to flourish under its new ownership. Our thanks also go to Savills for their valuable advisory role in this transaction.”
Richard Dawes, Director at Savills Hotel Capital Markets, said, “We are delighted to have acted for RE Capital on the sale of the Ruby Stella for £48 million. The property’s long-term lease to an institutionally trusted operator made it an attractive proposition for investors. The Ruby Stella is exceptionally positioned to offer robust returns backed by its location, outstanding sustainability credentials and ‘lean luxury’ offering. Congratulations to LaSalle on their acquisition.”
Gavin Vollans at Katten Muchin Rosenman LLP also advised vendor. Pedro Milborne at Constantine RE and Gowling WLG advised buyer.
