RB purchased 47,48, & 49-50 Poland Street (together with land to the rear of 54-55 Great Marlborough Street) in Soho, the heart of central London. The site comprises three prominent retail & office buildings currently totalling 53,000 sq ft GIA and benefits from planning consent by Westminster for demolition and redevelopment into a hotel with restaurant and bar space consisting of over 74,000 sq ft GIA on two basement levels, ground and six upper floors. The property was acquired from the Shiva Hotel group in August 2018, who will operate the hotel under a long lease. RB will benefit from additional upside through a share in the hotel’s operating company. Shiva Hotels currently own and manage the Kingsway Hall Hotel in Covent Garden, the Hilton at London Heathrow Terminal 5 and the Hilton DoubleTree at London ExCel.
RB also own a portfolio of hotels across England, including the Lingfield Park Marriott Hotel & Country Club with its 18 hole golf course, and is scheduled to open a 154-room Hilton Garden Inn with a hospitality suite for around 400 guests at its Doncaster Racecourse in H2 2018.