TH Real Estate has acquired a hotel and retail development in London's Hackney directly from the developer for £13.5m, reflecting a net initial yield of 5.88%.
The Amhurst Road freehold building, which was acquired on behalf of the group's UK Balanced Fund - Henderson UK Property OEIC, is situated adjacent to Hackney Central station.
The mixed-use site is let to Travelodge until 2040 with retailers including TK Maxx and Carphone Warehouse.