Ruby Zoe sells for £52.8 million to Deka Immobilien

UK: Actual property administration agency Deka Immobilen has acquired the four-star Ruby Zoe Lodge & Bar in London’s Notting Hill for £52.8 million.

The 173-room Ruby Zoe opened in June 2023. It was developed by Frogmore alongside its co-investment accomplice Morgan Stanley, and kinds a part of a wider redevelopment scheme.

It’s going to stay below operation by Ruby below a protracted lease. Business actual property agency CBRE suggested Deka on the acquisition. 

Ruby Zoe marks the primary acquisition in 2024 for the Open Actual Property Viewers Fund Deka-ImmobilienMetropolen. Based on Deka, the goal markets for the fund are chosen through a metropolis choice mannequin that’s “oriented in the direction of the long-term progress drivers, globalisation, urbanisation, ecology and new working worlds”.

The Ruby Zoe is the second Ruby resort in London alongside Ruby Lucy in Waterloo. Ruby Stella in Clerkenwell is about to open this April because the third location within the UK capital.

Throughout Europe, Ruby Motels has 18 motels in operation or within the pipeline. Ruby has just lately opened its first resort in Stuttgart and that in the following couple of years, the model will debut in France and Scotland.

Deka Immobilien is predicated in Frankfurt and has €55.5 billion of belongings below administration throughout all real-estate segments (as of 2023).

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