Whitbread, Premier Inn’s parent company, will take a 30-year lease of the hotel and restaurant, and at 400 bedrooms, the Canary Wharf Westferry Premier Inn will be the largest Premier Inn hotel not located at an airport.
The 30-storey development, designed by architects SimpsonHaugh, will provide a “gateway” to Canary Wharf and is scheduled for completion in early 2022.
Kris McPhail, fund manager, Aviva Investors, said: “We are pleased to participate in this scheme with Rockwell and be part of the rejuvenation of the existing site.
“The transaction provides our investors with an attractive 30-year inflation linked income stream from a market leading UK corporate, underpinned by strong real estate with excellent transport links. These are exactly the type of investments we target for the Lime Property Fund.”