LaSalle Investment Management has purchased the Ruby Stella hotel in London from RE Capital for £48 million.
Located on Eyre Street Hill in Farringdon, the 153-bed hotel opened in November 2024 and was put on the market in December the same year with a guide price of £50 million. The asset also comprises a ground-floor shared space, including a restaurant, bar and courtyard terrace.
The development has an ‘Excellent’ BREEAM rating and an EPC rating of A6.
Ruby Stella is the Ruby Hotels group’s third in London in addition to Ruby Lucy located on the Southbank and Ruby Zoe in Notting Hill.
Savills acted for RE Capital, with Gavin Vollans at Katten Muchin Rosenman LLP also advising. Pedro Milborne at Constantine RE and Gowling WLG advised LaSalle.
What they said
Richard Dawes, director at Savills - hotel capital markets said: “The Ruby Stella is exceptionally positioned to offer robust returns backed by its location, outstanding sustainability credentials and ‘lean luxury’ offering. The property’s long-term lease to an institutionally trusted operator made it an attractive proposition for investors.”
Luke Dhanoa, head of UK asset management at RE Capital UK added: “We are proud to have delivered the Ruby Stella Hotel. Working with Ruby Hotels has been a pleasure, and we’re confident the project will continue to flourish under its new ownership."