PPHE Hotel acquires development site in London for £12m

Mon, 2nd Dec 2019

Hospitality real estate company PPHE Hotel said it had acquired the freehold interest in a site in London for £12m, with a view to developing it into a hotel. The site, in London's SE1 postcode and near Park Plaza Waterloo, was acquired by a third party that the company did not name. Construction of the new hotel was subject to planning permission being obtained. 'The acquisition is aligned to PPHE Hotel's proven development strategy of targeting real estate in prime locations and attractive geographies where there is significant upside potential to drive growth and long-term value through both the property portfolio and operations,' the company said. Story provided by StockMarketWire.com

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